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Bitcoin Could Hit $185K If Historical Cycle Breaks, Says Peter Brandt

$BTC stands at a critical juncture following its recent all-time high above $126,100, with veteran trader Peter Brandt suggesting the #cryptocurrency could surge dramatically if it deviates from established patterns. Brandt identified Sunday as a potential cycle peak date based on historical halving patterns, but the cryptocurrency's performance in coming weeks will determine whether the four-year #cycle remains intact.

Brandt explained that $BTC hit its current cycle low on Nov. 9, 2022, which occurred 533 days before the April 20, 2024, halving event. Adding 533 days to the halving date points to this week as the historical peak timing. The pattern has held true across three previous Bitcoin market cycles, with each showing equal time periods from low to halving and halving to peak.

The veteran trader told reporters he remains 50/50 on the outcome, emphasizing that trends violating prevailing cyclic patterns typically produce the most dramatic price movements. If #Bitcoin deviates from its historical cycle, Brandt expects a move well beyond $150,000, with projections potentially reaching as high as $185,000. He stated he will remain bullish while watching for counter-cyclical behavior.

$BTC currently trades around $122,070, representing a 9.74% gain over the past 30 days after briefly surpassing $126,100. Brandt noted that while market cycles don't always repeat identically, Bitcoin has followed them consistently throughout its history. He cautioned against betting against a cycle with a perfect three-for-three record, though he acknowledged that sooner or later, cycles inevitably change.

The debate continues over whether crypto's four-year cycle remains relevant given institutional adoption, #ETF products, and corporate #digital-asset treasuries. Crypto analyst Rekt Capital suggested in July that if Bitcoin follows the 2020 pattern, the market would likely peak in October.