Seasoned trader Peter Brandt believes there’s a one in four chance that Bitcoin (BTC) will top out at $160,000 this cycle.
Brandt tells his 724,700 followers on the social media platform X that he expects the current Bitcoin bull market to endure until Q4 of 2025.
“Note that I assigned a 25% probability to my analysis. I give more credence to a report I issued in February. Here is a chart from that analysis – projecting a bull market until Sep/Oct 2025.”
Based on the trader’s chart, he seems to suggest that it took BTC 525 days from its November 2022 bottom at around $16,000 to breach $50,000. Using that number, Brandt says Bitcoin has 525 days from the $50,000 breakout to reach its $160,000 peak.
The $160,000 Bitcoin price target appears to be a conservative projection. In February, the veteran trader predicted that Bitcoin would rally to as high as $200,000 by September 2025. He says the prediction remains valid as long as Bitcoin stays above $50,000.
At time of writing, BTC is worth $63,776.
Regardless of where Bitcoin crescendoes, Brandt highlights that we are likely well past the early days of the BTC bull market.
“My money is still placed on a scenario whereby the halving was the halfway point within the bull cycle, but I want to make sure always that caution and risk management play key roles.”
The trader also reveals that he has been holding on to a BTC stack for about eight years.
“Some Bitcoin since 2016. Physical Gold for 40 years.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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