Bitcoin (BTC) has been experiencing a major rise in recent days, exceeding $ 89,000 yesterday evening and reaching the $ 90,000 mark.
This rise paused from time to time and dropped to $86,000 yesterday evening.
However, as the BTC price subsequently recovered above $87,000, 50-year analyst Peter Brandt made a major bullish prediction for BTC.
Experienced analyst Peter Brandt made a bullish prediction about the Bitcoin price, arguing that BTC could reach new highs in the coming days.
At this point, Brandt laid out two possible price scenarios for BTC: $134,000 and $327,000.
Despite Bitcoin’s corrections, Brandt noted that the bull trend remains intact, predicting that Bitcoin could reach $134,052 in the short term and possibly $327,000 by mid-2025.
Brandt's prediction is based on an inverse head and shoulders pattern that he laid out on the Bitcoin chart.
Although Brandt did not make any definitive conclusions about Bitcoin in his post, he expects an increase in the BTC price and does not offer any bearish scenarios.
What camp do you belong in?
Some say Bitcoin is very overbought
Others say Bitcoin has hardly peaked its head out of the cave and has a lot of room to run
What say you? Overbought (look about below) or just starting (look out above)? pic.twitter.com/eIud7nDApX
— Peter Brandt (@PeterLBrandt) November 13, 2024
*This is not investment advice.
