While the leading cryptocurrency Bitcoin broke the record by rising above $ 56,000, analysts and investors maintain their bullish expectations for BTC.
At this point, a new prediction came from experienced analyst Peter Brandt, who stands out with his predictions and analyzes on Bitcoin and the cryptocurrency market.
Believing that Bitcoin will rise even higher in the ongoing bull market, Brandt increased his previous target of $ 120,000.
Accordingly, Brandt announced that he expects BTC to peak at $200,000 in 2025.
Sharing from his account X, Brandt stated that he predicts Bitcoin will rise to $ 200,000 by September 2025.
The experienced analyst, who based this prediction on previous halving cycles and technical analysis indicators such as Bollinger band width, argued that these showed that further price increases were imminent in the coming days.
“Bitcoin Update:
With the upper boundary of the 15-month channel breached, I am raising the target from $120,000 to $200,000 for the current bull market cycle, which is scheduled to end in August/September 2025.
“However, a close below last week's low will negate this comment.”
Finally, the analyst claimed that the laser eye symbol will be a contrarian indicator for Bitcoin, adding that “the use of laser eyes will be a contrarian indicator that signals the retail investor frenzy that is often observed at the peaks of the market. Therefore, just like I did with the 2021 bull, laser eyes on the 'X' will be the opposite indicator.” “I'll use it as an indicator. So guys, if you want Bitcoin to stay in a strong trend, please don't use laser eyes on your social media pictures.” said.
Just as I did in 2021, I will use laser eyes on "X" as a contrary indicator. So, people, if you want Bitcoin to remain in a strong trend please do not adopt laser eyes on your social media picture
Too many laser eyes will be the KOD https://t.co/p6Cgea6PpP— Peter Brandt (@PeterLBrandt) February 27, 2024
*This is not investment advice.
