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This Is When BTC Price Could Soar to $150K, According to Bitcoin Halving Cycles: Peter Brandt

June 3, 2024
in Crypto News
Reading Time: 2 mins read
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In a recent analysis, renowned crypto trader Peter Brandt predicted that bitcoin’s current bull run could see the cryptocurrency reaching a peak between $130,000 and $150,000 by late August to early September 2025.

Brandt’s projection is based on historical patterns following BTC’s previous halving events.

Bitcoin’s Bull Run Could Hit $130K-$150K

The April 20 halving, an important event coded into Bitcoin’s protocol occurring approximately every four years, cuts mining rewards by half. According to Brandt, these events have historically played a big role in shaping its bull market cycles.

In his June 2 report, he detailed how previous halving dates have “represented almost perfect symmetry within past bull market cycles.”

Specifically, he noted that the number of weeks from the start of each bull market cycle, typically marked by a significant low following a decline of over 75%, to the halving dates is almost equal to the number of weeks from the halving dates to the following bull market highs.

Analyzing past patterns, Brandt pointed to the last Bitcoin bull market, which started about 16 months before the halving on May 11, 2020, and concluded roughly 18 months later. This pattern aligns with previous cycles following the July 9, 2016, and November 28, 2012 halvings.

“If this sequence continues, the next bull market cycle high should occur in late August or early September 2025,” Brandt added. He projected a potential high in the range of $130,000 to $150,000, noting that while no method of analysis is foolproof, past highs have corresponded well with an inverted parabolic curve.

Brandt’s analysis pinpoints December 17, 2022, as the start of the current bull market, with bitcoin trading around $16,800 at that time. Since then, BTC  has surged over 300%, reaching an all-time high of $73,800 on March 14.

Peter Brandt Warns of Potential ‘Exponential Decay’

However, Brandt also offered a note of caution. He acknowledged a 25% probability that Bitcoin has already reached its bull market peak, given that each cycle’s gains are reducing when compared to the previous one. He also warned that if bitcoin fails to surpass its previous high and drops below $55,000, it could signify an “exponential decay” in its market value.

In a previous blog post, Brandt highlighted that around 80% of the exponential momentum from each of the last four BTC bull cycles has reduced. Looking forward, he forecasted an exponential growth of approximately 4.5 times the current value.

While he recognized the halving’s potential to influence bitcoin’s value positively, Brandt stressed the importance for traders to watch for signs of exponential decay carefully.

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