Bitcoin

A well-known commodity trader believes that Bitcoin (BTC) is set to hit new highs in August 2025.JOIN CRYPTOS HEADLINES<a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">TELEGRAM CHANNEL</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1427be73436f448dbc58731caede0626.svg&#43;xml" />Peter Brandt, a famous commodity trader, recently announced that he has identified a short-term buying signal for Bitcoin.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c453e68fe62e4c7ea08174ae7ab0c76b.png" /><h3 id="peter-brandt-s-bitcoin-buy-signal-amidst-largest-correction">Peter Brandt’s Bitcoin Buy Signal Amidst Largest Correction</h3><blockquote>Peter Brandt, a well-known commodity trader, recently pointed out a short-term buy signal for Bitcoin, which he refers to as a “foot shot” (Friday) pattern on his X social media account.</blockquote><img src="https://academy-public.coinmarketcap.com/optimized-uploads/b3b44454d2c247848800442d66bae174.png" />Source: <a href="https://x.com/PeterLBrandt/status/1809630547158921359?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">X</a>Brandt also highlighted that the <a href="https://cryptosheadlines.com/bullish-future-for-shib-and-floki-in-current-market-conditions/" rel="noopener noreferrer nofollow">current market</a> correction is the largest seen during the ongoing bullish cycle that began in December 2022.Last Friday, <a href="https://cryptosheadlines.com/experts-forecast-more-bitcoin-price-drop/" rel="noopener noreferrer nofollow">Bitcoin’s price dropped</a> to as low as $53,917, driven by the combined effects of substantial Mt. <a href="https://cryptosheadlines.com/bitcoin-faces-uncertain-july-as-mt-gox-repayments-loom/" rel="noopener noreferrer nofollow">Gox repayments</a> and significant government liquidations. This drop represents a 27% correction, notably larger than the 21.9% correction Bitcoin experienced in Q3 2023, when it fell from a local peak of $31,862 to $24,900.<h3 id="bitcoin-s-price-predictions-brandt-s-long-term-outlook">Bitcoin’s Price Predictions: Brandt’s Long-Term Outlook</h3>Adam Back, co-founder of Blockstream, recently downplayed the significance of Bitcoin’s recent price dip by comparing it to past bull cycles, which also experienced significant corrections.<a href="https://cryptosheadlines.com/fomc-decrees-pause-on-bonds-dollar-and-inflation-peter-brandt-predicts-bitcoin-rally/" rel="noopener noreferrer nofollow">Peter Brandt has previously predicted that Bitcoin</a> could potentially reach as high as $150,000 during this bull cycle. This target aligns with <a href="https://cryptosheadlines.com/tom-lee-forecasts-bitcoins-rise-to-82k-and-150k-by-2024-end/" rel="noopener noreferrer nofollow">forecasts from Fundstrat’s Tom Lee</a>. However, Brandt believes that such a high price is more likely to be achieved by August 2025 rather than this year.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c453e68fe62e4c7ea08174ae7ab0c76b.png" />Currently, Bitcoin is trading at $57,478, with bulls having reclaimed some of the lost ground. Brandt’s outlook is based on historical patterns, suggesting that the market may peak in August 2025.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/26a8a676e305423a85025fff65991d4c.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Peter Brandt Sees Big Bitcoin (BTC) Buy Signal

Table of Contents

CryptosHeadlines.com

Other articles published on Jul 7, 2024

Shiba Inu (SHIB) Records Massive Price Spike as Ex-Goldman Analyst Predicts Meme Coin Cycle

Underrated Blockchain Gems: Emerging Coins to Monitor This July:

Fuk MT Gox Memecoin Explodes 190% and Will Surge Another 17,000% Before KuCoin Listing

Economy: China Hits Back at EU Tariffs With Explosive Investigation!

DOT Keeps Falling, DTX Exchange Hits 5,000 Holders as PEPE Traders Join

Tron Sees Robust Growth: Daily Transactions Increase 6%, TRX Price Rises by 13% This Month

Join our free newsletter for daily crypto updates!