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Brandt sees Bitcoin's move above the top of a multi-month channel represents a decisive technical breakout, signaling further upside.
Factor LLC CEO, veteran commodities trader, and seasoned chart analyst Peter Brandt has raised his September 2025 price target for Bitcoin from $120,000 to $200,000 after results from the alpha cryptocurrency’s breakout saw gains of roughly 10%, pulling ahead from a 15-month channel.
Bitcoin Update
With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000. $BTC
A close below last week's low will nullify this interpretation pic.twitter.com/19ZXpAQW0v
— Peter Brandt (@PeterLBrandt) February 27, 2024
According to Brandt, Bitcoin’s move above the top of a multi-month channel represents a decisive technical breakout, signaling further upside within the time frame. The current bull cycle is estimated to end by August or September 2025.
Bitcoin recently broke the $56,000 level after back-and-forth shots at $55,000 yesterday as Bitcoin’s halving approaches in just 50 days.
Brandt is not alone in dramatically forecasting higher Bitcoin prices in the next few years. Several studies point to exponential growth, driven by the supply-constraining impact of Bitcoin’s quadrennial reward halving events. A study from Bloomberg analysts points to Bitcoin ETFs surpassing Gold ETFs in AUM in less than two years. An earlier prediction from Rekt Capital saw the current Bitcoin rally going forth as February started.
Bitcoin’s next halving in April will cut the block reward miners receive from 6.25 bitcoin per block validated to just 3.125. With demand expected to grow while new supply tightens, analysts say conditions are ripe for aggressive, near-vertical rallies like those seen after previous halvings.
Adding support to the ultra-bullish case, it appears that Bitcoin has room to match past cycle peaks if its historical trends follow congruences. A close “below last week’s low will nullify this interpretation,” notes Brandt.
Notably, Brandt warned Bitcoin investors against using “laser eyes” profile photos on social media, a trend that he sees as a “contrary indicator” that could be detrimental to the current upside. Brandt began his work in commodities trading in 1975, bringing in over four decades of experience analyzing market movements.
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