Crypto Expert Predicts Bitcoin Surge While Cautioning on Market Risks

Veteran trader Peter Brandt has shared a mixed outlook on Bitcoin, suggesting it could soar to $150,000 this year while warning of a possible sharp decline.

Brandt, known for his data-driven approach, bases his analysis on Bayesian methods, which consider past trends alongside current data to forecast potential outcomes.

He notes Bitcoin could either rise nearly 50% from its current price of $100,029 or face a steep correction exceeding 50%.

Brandt highlights conflicting signals in Bitcoin’s price charts. A bearish head-and-shoulders pattern could indicate a loss of momentum, signaling a downturn if key support levels are breached.

READ MORE:

Corporate Bitcoin Adoption Poised for Massive Growth, Says Bitwise CIO

Conversely, he points to a pattern he describes as “bump, hump, slump, and dump,” which suggests a short-term dip to $84,000 might precede a rally toward $150,000.

According to Brandt, significant market rallies often occur after retail traders grow weary or exit the market entirely.

Kostadin Dimitrov