With Bitcoin recently reaching record highs, discussions about its future are intensifying. Experienced trader Peter Brandt shares his forecasts.
Is the Bitcoin Peak In?
Peter Brandt, a well-known trader, has estimated a 30% chance that Bitcoin has already peaked in this cycle. He relies on historical data indicating that Bitcoin peaks generally occur around 37 months after the previous minimum. In this instance, the minimum was recorded on November 22, 2022, when the price fell below $16,000.
Forecast to $500,000
According to Brandt’s predictions, after a possible correction, Bitcoin could rise to a price of $500,000. This means that after a correction to $60,000 - $70,000 projected for November 2026, Bitcoin may start climbing to new heights again.
Market Capitalization Significance
If Bitcoin reaches $500,000, its market capitalization could approach $10 trillion, which is a 325% increase from current levels. Notably, gold remains the leader in market cap at $22.7 trillion.
Predictions for Bitcoin remain high, yet a potential correction may hinder further growth. Investors are closely monitoring market changes and key metrics.
