Famous trader Peter Brandt has projected an impressive scenario for the Bitcoin price, estimating a potential surge to $150,000 within the ongoing bullish phase. Brandt's analysis draws attention to the alignment of Bitcoin's prior cycle highs with an inverted parabolic curve, leading to the anticipation of the cryptocurrency reaching the specified price level if the current trend persists. While Brandt expresses confidence in this forecast, he highlights the imperfect nature of his analytical method, advising traders to proceed cautiously. Additionally, Brandt raises a concern about a 25% probability that Bitcoin may have already peaked in the current cycle, especially if it fails to break the $55,000 resistance.

At present, Bitcoin is being traded at $67,528, with a marginal 0.2% decline over the last 24 hours. Despite this drop, the cryptocurrency remains more than 8% below its peak value of $73,737.

An analysis comparing the current market situation to 2017 has been put forth by cryptocurrency trader Jake Wujastyk, who points out significant similarities between the price movements of Bitcoin now and in early 2017. This resemblance indicates a promising potential for a substantial upward movement in the near future. Moreover, market analyst Tom Lee is optimistic about Bitcoin's trajectory, suggesting a possible climb to $150,000 within the ongoing year. Looking ahead, forecasts hint at a remarkable milestone for Bitcoin, potentially surpassing $250,000 by the year 2025.