Veteran trader and renowned chartist Peter Brandt shared an optimistic outlook for bitcoin on Sunday after the cryptocurrency broke its all-time highs on Sunday.
Posting on social media platform X, Brandt noted that between March and October 2024, bitcoin consistently offered everyone buying opportunities during dips. “When BTC decides to ‘Mark-Up,’ it never looks back,” he stressed. “Throughout its history, when BTC runs – it runs.” Brandt outlined a potential path for bitcoin to reach $125,000 by New Year’s, using a “time/price” Bayesian probability model. “Based on Jan-Mar ’24 run as only one ‘time/price’ Bayesian probability ‘priors,’ price could hit $125K by New Years,” he noted.
In Bayesian analysis, “priors” are initial data points or assumptions that help predict future outcomes based on past events. Brandt uses bitcoin’s price action from January to March 2024 as his “prior” — essentially, as a baseline pattern that could indicate how bitcoin might behave under similar conditions in the future.
Last week, Brandt reiterated that bitcoin is in the “sweet spot” of its halving cycle, historically linked to significant price growth. He explained that halving events, which reduce mining rewards, tend to split bull markets into two distinct phases, creating predictable timing patterns. Based on this cycle, Brandt forecasts that bitcoin’s price could peak between $130,000 and $150,000 by August or September 2025, emphasizing its volatility and growth potential if the bullish trend continues.
Many analysts have offered their bitcoin price predictions. Asset management firm Vaneck projects that BTC could reach $3 million by 2050 if it becomes a reserve asset held by global central banks. Meanwhile, analysts at Bernstein predict BTC could hit $200,000 by the end of 2025. JPMorgan is also optimistic, with its analysts recently stating, “We are positive on bitcoin into 2025.”
