Bitcoin’s Potential to Hit $400,000

February was a great month for Bitcoin, with its price soaring by 39%. This is the second most profitable February in Bitcoin’s history and the best in 11 years.

Halving Effect

Bitcoin halvings, which reduce the reward for miners, often lead to significant price increases. According to expert Peter Brandt, Bitcoin’s price could skyrocket to $400,000 after the next halving.

Brandt’s Analysis

Brandt’s analysis is based on historical gains after past halvings. He predicts that:

  • If the bull trend continues for 75 weeks after the next halving, Bitcoin could reach $150,000 in October 2025.
  • Bitcoin could reach $275,000 if it gains 5x its pre-halving value, as it did in 2012.
  • It could reach $400,000 if it gains 8x its pre-halving value, as it did in 2016.

Current Market Outlook

Bitcoin is currently trading at $62,600, up 21.25% in the past week. Technical indicators suggest that the bull run is likely to continue, with no major resistance levels in sight.

Bullish Sentiment

On-chain data shows that traders are accumulating Bitcoin, with short-term whales holding over $7.3 billion in unrealized profit. This bullish sentiment could push Bitcoin to a new all-time high in March.