Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Prominent trader Peter Brandt has <a href="https://www.peterlbrandt.com/the-beautiful-symmetry-of-past-bitcoin-bull-market-cycles/">predicted</a> that the Bitcoin price could potentially reach a whopping $150,000 during the ongoing bullish cycle.&nbsp;
Brandt has noted that the highs of Bitcoin's previous two cycles line up well against an inverted parabolic curve. He expects the flagship cryptocurrency to hit the aforementioned price target if this tendency continues.&nbsp;
At the same time, Brandt has warned that his method of analysis is not "fool-proof," which is why traders should exercise caution.&nbsp;
Brandt has also warned that there is a 25% probability that the leading cryptocurrency has already reached the apex of this cycle. "Should Bitcoin fail to make a decisive new ATH and decline below $55,000 I will raise the probability of the Exponential Decay," Brandt added.&nbsp;
At press time, Bitcoin is trading at $67,528 after dropping a mere 0.2% over the past 24 hours.&nbsp;&nbsp;&nbsp;
The leading cryptocurrency is down more than 8% from its current all-time high of $73,737.&nbsp;
<h2 id="2017-parallels">2017 parallels&nbsp;</h2>
According to a recent&nbsp;<a href="https://u.today/bitcoin-btc-breakout-has-strong-february-2017-vibes-top-trader">post</a> by cryptocurrency trader Jake Wujastyk, Bitcoin's current price action is eerily similar to early 2017. He suggested that there could be much more upside potential.
As reported by U.Today, permabull Tom Lee stated that the price of the leading cryptocurrency could potentially surge to as high as $150,000 this year.&nbsp;
In 2025, the leading cryptocurrency could&nbsp;<a href="https://u.today/standard-chartered-expects-bitcoin-btc-to-hit-250000">end up surpassing</a> $250,000.

Top Trader Peter Brandt Predicts How High Bitcoin (BTC) Price Might Go in This Cycle

Table of Contents

U_Today

Other articles published on Jun 2, 2024

Massive 3 Billion Ripple Coins On the Move – XRP Price Rally or Crash?

Ark Invest exits Ether ETF race, 21Shares continues with rebranded fund

Polygon (MATIC) Skyrockets 1,615% in Gaming Addresses as Positivity Grows

4 Cryptos with Best Risk-Reward Ratio

Investors Track Key Cryptocurrency Developments

Scaramucci Warns Biden's Veto Of Crypto Custody Bill Will 'Cost Him More Than He Realizes': 'Out ...

Join our free newsletter for daily crypto updates!