Bitcoin is on the move! Peter Brandt, a well-known trader, thinks Bitcoin might be entering a super-charged phase after breaking through $70,000. He’s seeing signs that Bitcoin is leaving behind a period of lower highs and lower lows, and could be entering a parabolic phase – a period of rapid price growth.
What’s the deal with halving? Every four years, Bitcoin’s mining rewards are cut in half. This event, known as halving, historically leads to a big price jump for Bitcoin. Brandt believes we’re seeing the start of this post-halving rally.
Big Price Targets:
- $94,000:
Brandt sees this as a potential target based on a technical pattern called an “inverted expanding triangle.”
- Six Figures: He’s also looking at other models that suggest Bitcoin could reach six figures.
- $150,000:
A third model suggests Bitcoin could even hit $150,000.
Important Note:
While Brandt is a respected trader, these are just predictions. The market is unpredictable, and there’s no guarantee that Bitcoin will reach these targets. Remember to do your own research before making any investment decisions. /p>
