Peter Brandt, a veteran trader and analyst, forecasts potential price peaks for Bitcoin based on previous market cycles, predicting that the next maximum price could be achieved in September 2025.
Peter Brandt's Bitcoin Prediction
Peter Brandt expects Bitcoin to reach its peak price between September 15 and 28, trading around $145,000. He based his theory on previous market cycles, each occurring within 75 weeks of previous tops. As of now, Bitcoin price has dipped after a robust rally on Monday when it surpassed the $121,000 mark. Despite a decline of over 5 percent in the last three weeks, analysts believe that the cryptocurrency is in its final stage before a significant breakout towards $200,000.
Increase in New Bitcoin Addresses
The total number of new Bitcoin addresses being created daily has reached a yearly high of 364,126, according to Ali_charts. This increase in new addresses, combined with Bitcoin's ascent to $119,000, has bolstered market confidence, coinciding with the overall dominance of long-term holders in the latest on-chain activity. Data from Glassnode indicates that the current bullish wave is led by long-term investors, unlike the November-December 2024 wave, which had a notable presence of short-term holders seeking quick gains.
Future Outlook for Bitcoin
Despite the recent meteoric rise to $122,000, Bitcoin still has a long way to go in percentage terms to match previous bull market cycles. The 2019 to 2021 cycle recorded a 2,089% increase to the 2021 ATH. If the largest cryptocurrency mirrors a similar gain, its price could soar as high as $340,000. Currently, BTC's price is only about 700% up from its 2022 bear market low of $15,600.
In conclusion, Bitcoin remains a focal point for traders and analysts, with predictions pointing towards attaining new price heights soon. The market activity, including the rise in new addresses, also suggests potential for further cryptocurrency growth.
