Peter Brandt Suggests Bitcoin Bull Run May Have Peaked: '...Already Reached A Price Consistent'
Portfolio Pulse from Benzinga Neuro
Peter Brandt, CEO of Factor LLC and a seasoned chart analyst, has revised his bullish forecast for Bitcoin (BTC), suggesting the bull market may have peaked. Initially predicting a bull cycle extending to September 2025 with potential highs of $200,000, Brandt now cites the 'exponential decay' theory to argue that Bitcoin's March 14, 2024, high of $73,835 could represent the peak. However, he acknowledges a potential top in the $140,000 to $160,000 range by late summer/early fall 2025 based on the 'Pre/Post Halving' cycle. Meanwhile, Bernstein analysts maintain a $150,000 price target for Bitcoin by the end of 2025, despite a recent slowdown in bitcoin ETF inflows.
April 30, 2024 | 1:42 pm
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Peter Brandt suggests Bitcoin's bull market may have peaked, revising his forecast based on the 'exponential decay' theory. Despite this, he sees a potential high of $140,000 to $160,000 by late 2025, supported by Bernstein analysts' $150,000 price target.
Brandt's revised forecast and the acknowledgment of a potential high in the $140,000 to $160,000 range by 2025, despite a recent slowdown in ETF inflows, could introduce uncertainty in the short term. However, the support from Bernstein analysts for a $150,000 target by the end of 2025 suggests a balanced outlook, leading to a neutral score.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100