Trader Peter Brandt: If it fails to reach all-time highs, bitcoin prices could fall by 75%.
2024-10-12 03:38:59
Peter Brandt, a prominent trader and charting analyst, warned bitcoin investors that the market trend showed potential downside risks. He noted that bitcoin has not reached a new high for 30 consecutive weeks, and similar situations in history have usually led to price declines of more than 75%. Brandt remains optimistic, predicting that the price of bitcoin will reach $135,000 by August or September 2025, but at the same time warned that if bitcoin falls below $48,000, its analysis will be invalid and the market needs to be reassessed. Brandt also emphasized that bitcoin's gains tend to occur in the second half of a four-year halving cycle.
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