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<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-bulls-roar-as-peter-brandt-elevates-bull-market-target-to-200000/">Bitcoin Bulls Roar as Peter Brandt Elevates Bull Market Target to $200,000</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/ethereum-is-a-piece-of-junk-when-compared-to-bitcoin-says-peter-brandt/">Peter Brandt</a>, the widely respected founder and CEO of Factor LLC, a global trading company, has set an ambitious target of $200,000 for Bitcoin’s ongoing bull market cycle. Yet, he also hints at a short-term projection, foreseeing a potential climb to $56,000 before mid-March.</p> 
<h2 class="wp-block-heading" id="h-extended-bull-market-projections">Extended Bull Market Projections</h2> 
<p>In a <a href="https://twitter.com/PeterLBrandt/status/1762303814156308957">recent tweet</a>, market analyst Peter Brandt has increased his Bitcoin price target from the initial $120,000 to a more optimistic $200,000. The adjustment comes as Bitcoin shows a positive trend, breaking above the upper boundary of the 15-month channel. However, this reflects increased confidence in the cryptocurrency’s rising value.&nbsp;</p> 
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   <p lang="en" dir="ltr">Bitcoin Update<br>With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <br>A close below last week's low will nullify this interpretation <a href="https://t.co/19ZXpAQW0v">pic.twitter.com/19ZXpAQW0v</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1762303814156308957?ref_src=twsrc%5Etfw">February 27, 2024</a>
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<p>Meanwhile, the revised forecast suggests that this positive trend may continue, with the current market cycle possibly concluding around August or September 2025.</p> 
<h2 class="wp-block-heading" id="h-short-term-predictions">Short-Term Predictions</h2> 
<p>In addition to the revised long-term projection, Brandt provides short-term predictions for Bitcoin’s price movement. He anticipates a climb to $56,000 before mid-March. While various factors can influence short-term forecasts, this prediction contributes to the overall bullish sentiment surrounding Bitcoin.</p> 
<h3 class="wp-block-heading" id="h-cautionary-reminder">Cautionary Reminder</h3> 
<p>Despite the positive outlook, Brandt issues a cautionary reminder to market participants. A close below last week’s low could nullify the optimistic interpretation and introduce a degree of uncertainty.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-future-hopes-nbsp">Future Hopes&nbsp;</h3> 
<p>The biggest cryptocurrency by market value, Bitcoin, has surged 8.76% in the last 24 hours, <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*d1a3lv*_ga*NTQzNDc3MzQ4LjE2OTcxODMzODc.*_ga_RE1GG3FGQW*MTcwOTAxMTY2OS4xMTQuMS4xNzA5MDEyMzI5LjI4LjAuMA..">reaching $56,094</a>. This surge is attributed to the inflow of money into a recently approved ETF by significant institutions.</p> 
<p>Some believe this is just the beginning of a massive bull run, as the upcoming <a href="https://coinpedia.org/news/bitcoin-halving-sparks-bullish-sentiment-as-analysts-predict-btc-price-surge-to-273000/">Bitcoin halving is 59 days </a>away.</p>

Bitcoin Bulls Roar as Peter Brandt Elevates Bull Market Target to $200,000

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