Renowned trader Peter Brandt is sounding the alarm on Bitcoin (BTC), suggesting that the leading cryptocurrency could be in for a significant downturn if it fails to reach new all-time highs soon. Brandt, who has a massive following on the social media platform X, points out that historically, Bitcoin has experienced a sharp decline after failing to achieve new record highs within a certain timeframe.
Brandt’s warning comes as BTC has struggled to sustain significant rallies for the past eight months. In a recent tweet, Brandt highlights the concept of ‘market analogs’ and notes that it has been 30 weeks since Bitcoin reached its all-time high. According to his observation, whenever Bitcoin has failed to set new record highs within this timeframe, a decline of 75% or more has ensued.
The veteran trader also draws on an old adage about market weakness, stating, “Markets that don’t go up usually can’t go up.” While Brandt’s analysis paints a bearish picture for Bitcoin, he clarifies that he is merely sharing an observation and not making a market prediction.
Despite his cautionary stance, Brandt recently outlined a bullish scenario for Bitcoin, pointing out that the cryptocurrency tends to see significant gains in the second half of a halving cycle. He predicts a target price of $135,000 for Bitcoin in August or September 2025, provided it does not drop below $48,000.
In a chart analysis shared by Brandt, he emphasizes the importance of the post-halving cycle gains in driving Bitcoin’s price trajectory. At the time of writing, Bitcoin is valued at $62,741, reflecting the ongoing volatility and uncertainty in the cryptocurrency market.
Brandt’s insights serve as a reminder for investors to stay vigilant and consider all potential outcomes in the ever-changing landscape of digital assets. While the future of Bitcoin remains uncertain, Brandt’s analysis offers valuable insights for those navigating the crypto market.
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Image Source: Peter Brandt/X
Remember to stay informed and make well-informed decisions when investing in cryptocurrencies. The market can be volatile, so it’s essential to stay updated and adapt to changing trends.