Bitcoin Price Prediction: Expert Trader Peter Brandt Signals Danger Ahead for BTC’s Future
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, managed to halt its early-day losses and surged above the $65,000 mark, reaching an intraday high of $65,360.
The rise in BTC price can be attributed to a bullish Bitcoin price prediction from veteran trader Peter Brandt, who confirmed a bear trap with the July 13 close.
Brandt anticipates BTC could reach $150,000 by late 2025, provided it stays above $56,000. Another factor boosting BTC price is recent inflows into US spot Bitcoin ETFs, particularly BlackRock’s iShares Bitcoin Trust.
These investments have helped push BTC prices above $65,000. Crypto analyst Kevin Svenson’s prediction of a parabolic rally similar to 2017 further excites investors with bullish sentiment.
Veteran trader Peter Brandt believes Bitcoin has growth potential. He notes a recent price pattern suggesting that if Bitcoin stays above $56,000, it could gain upward momentum.
Brandt predicts Bitcoin could reach as high as $150,000 by late 2025. However, he warns that if Bitcoin drops below $56,000, this optimistic outlook could change.
While I am impressed by the current bounce in Bitcoin $BTC it should be noted that the sequence of lower highs and lower lows continues despite the halving, despite the ETf, despite the hype pic.twitter.com/V5M6FFaMpJ
— Peter Brandt (@PeterLBrandt) July 17, 2024
Brandt also highlights ongoing challenges for Bitcoin, noting that despite recent price increases, overall price trends remain lower. He observes that significant events, such as halvings and ETF developments, have not had a sustained positive impact on Bitcoin’s price direction.
Bitcoin (BTC/USD) is trading at approximately $64,760, reflecting a slight increase of 0.05% over the last 24 hours. The
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