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.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.