Originally published on: October 09, 2024
A recent prediction has set the target for Bitcoin to reach $135,000 by 2025, barring a significant 25% price crash that could derail its upward momentum.
Renowned trader Peter Brandt shared his outlook for Bitcoin in the coming years in a recent update. Despite consolidating below all-time highs for several months, Brandt believes that the real bull market gains for Bitcoin are yet to come.
Brandt’s analysis suggests that the latter half of Bitcoin’s halving cycles typically witness the most substantial price increases, indicating that his $135,000 price target may be conservative compared to what the future holds.
However, there is a catch. If bears take control and the BTC/USD price plunges significantly, dropping below $48,000 could negate Brandt’s chart analysis and alter the trajectory of Bitcoin’s price movement.
In response to Brandt’s prediction, Keith Alan, co-founder of Material Indicators, expressed cautious optimism, aligning closely with Brandt’s outlook while offering his slightly lower price target in the $125,000 – $130,000 range.
Despite differing opinions on the exact numbers, the consensus appears to favor Bitcoin’s continued upward trend, with 2025 being earmarked as a potential year for its next major peak.
The crypto community anticipates exciting times ahead for Bitcoin, with various models projecting different price points for the cryptocurrency. While some foresee Bitcoin hitting $275,000 by the end of next year, others are more conservative in their estimates.
It’s important to note that investing in cryptocurrencies carries inherent risks, and readers should conduct thorough research before making any financial decisions.
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