{"id":11070,"date":"2024-02-27T12:10:55","date_gmt":"2024-02-27T10:10:55","guid":{"rendered":"https:\/\/forklog.com\/en\/peter-brandt-raises-bitcoin-forecast-to-200000\/"},"modified":"2024-02-27T12:10:55","modified_gmt":"2024-02-27T10:10:55","slug":"peter-brandt-raises-bitcoin-forecast-to-200000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/peter-brandt-raises-bitcoin-forecast-to-200000\/","title":{"rendered":"Peter Brandt Raises Bitcoin Forecast to $200,000"},"content":{"rendered":"<p>Following a breakthrough past the $56,000 mark, technical analyst and head of Factor LLC, Peter Brandt, has revised his forecast for the leading cryptocurrency in 2025 from $120,000 to $200,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin Update<br \/>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 $200,000. <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <br \/>A close below last week&#8217;s low will nullify this interpretation <a href=\"https:\/\/t.co\/19ZXpAQW0v\">pic.twitter.com\/19ZXpAQW0v<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1762303814156308957?ref_src=twsrc%5Etfw\">February 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert raised the bar as Bitcoin surpassed the upper resistance boundary of a 15-month channel. This is marked on the chart by trend lines connecting the lows of November 2022 and September 2023, as well as the highs of April 2023 and January 2024.<\/p>\n<p>According to Brandt, the current bull cycle will conclude in August-September 2025. By then, the price of digital gold is expected to reach the stated target.<\/p>\n<p>The analyst&#8217;s forecast suggests a rise of more than 250% from current levels and 190% from the historical peak.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs in 2021, I will use laser eyes on X as a counter-indicator. So, folks, if you want Bitcoin to maintain a strong trend, please do not post laser eyes on your social media photos. Too many laser eyes is a signal to sell,\u201d <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1762306882994368724\">added<\/a> Brandt.<\/p>\n<\/blockquote>\n<p>A technical analyst known as Ali noted that the market has entered the \u201chope\u201d phase in the psychology of a bull cycle.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> market appears to have entered the \u201chope\u201d phase in the psychology of a market cycle! Take any correction as an opportunity to buy the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> dip. <a href=\"https:\/\/t.co\/bLAcgYWfe8\">pic.twitter.com\/bLAcgYWfe8<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1762249414158991386?ref_src=twsrc%5Etfw\">February 26, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTake any correction as an opportunity to buy Bitcoin on the dip,\u201d he added.<\/p>\n<\/blockquote>\n<p>Founder of MN Trading, Micha\u00ebl van de Poppe, pointed out that Bitcoin is just 20% away from its all-time high, with the halving event only 55 days away.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> being less than 20% away from its all-time high 55 days before its halving. <\/p>\n<p>It\u2019s an epic run, already.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1762369471916707948?ref_src=twsrc%5Etfw\">February 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A trader known as DonAlt noted the \u201ccrazy bullish sentiment\u201d around Bitcoin. However, he believes there are risks of a trend reversal if the asset fails to hold the $52,000 level.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> update:<\/p>\n<p>Still a good chart, still a good coin<br \/>Almost back to ATH, kind of crazy<\/p>\n<p>Bullish unless $52k is lost is the play now IMO making any entry taken on the first post a free open-ended ride <a href=\"https:\/\/t.co\/jZWCYW91kY\">pic.twitter.com\/jZWCYW91kY<\/a><\/p>\n<p>\u2014 DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/1762388176117567529?ref_src=twsrc%5Etfw\">February 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, digital gold is trading at $56,400, having gained 10% in the past 24 hours.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/TviGdcf7hCLEEOegDBczT0Vk7BRu2Em5LWVj2lKZWuqL05vfYSdUTqux0P57sdaBSRVq33Kfyb29FvPV6TPSxSaoOMbVwuUeHfGME7ggMw3s3K_6WC8mG162MHnpTYi5gggVCjQC8mZGXqPjNeW4Chg\" alt=\"Peter Brandt Raises Bitcoin Forecast to $200,000\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier, Pantera Capital predicted Bitcoin could rise to $147,000 in 2025, based on previous cycles.<\/p>\n<p>In February, Lucas Outumuro, head of research at IntoTheBlock, identified five catalysts for Bitcoin&#8217;s rise above $70,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a breakthrough past the $56,000 mark, technical analyst and head of Factor LLC, Peter Brandt, has revised his forecast for the leading cryptocurrency in 2025 from $120,000 to $200,000. Bitcoin UpdateWith 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1146,1420],"class_list":["post-11070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-market-forecasts","tag-peter-brandt"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11070"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11069"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}