Over the past week, Bitcoin has shown a lot of resilience, rising back above the $60,000 price zone after a significant drop below the $57,000 price zone. As Bitcoin bulls gain momentum to potentially initiate the crypto bull run, top analyst and market expert Peter Brandt has backed BTC to reach a certain six-figure value by 2025.
No other market like Bitcoin, says Brandt
In a blog post on May 3, Peter Brandt shared some insights about Bitcoin in celebration of his 50th anniversary in futures trading. The veteran analyst described his experience with the first cryptocurrency as a “once in a lifetime trade, never to be matched.”
Bitcoin – the trade of a lifetime
There has never been another asset like Bitcoin and there never will be again $BTC
Here’s the perspective from my 50-year career as a professional traderhttps://t.co/fyHrGRRHLo pic.twitter.com/dwrBwtknqP— Peter Brandt (@PeterLBrandt) May 3, 2024
Brandt argues that Bitcoin is a unique asset compared to commodities like gold, cattle, iron ore, copper and even other cryptocurrencies like altcoins and meme coins. He claims that BTC owes this uniqueness to its operational nature and price behavior.
Brandt analyzes BTC’s price history and notes that the coin has repeatedly delivered exponential gains in the past that have not been seen with any other trading asset. And while these gains are followed by significant corrections, BTC’s overall price performance sets it apart from other assets.
Another aspect of Bitcoin’s uniqueness, as highlighted by Brandt, is that the asset’s volatility is also evident with recessions resulting in declines of more than 50% and even 75%. Therefore, Bitcoin exerts a special ability to generate significant profits while causing significant losses.
Now, based on BTC’s parabolic price nature, Brandt predicts that the asset is on track to reach $150,000 by 2025. Interestingly, if the bulls maintain market control, the analyst believes Bitcoin could rise as high as $300,000 after 2026.
BTC price overview
At the time of writing, Bitcoin transactions at $63,303, after encountering serious resistance at the $64,000 price zone. The first cryptocurrency appears to be currently in consolidation and could be preparing for another possible breakout.
If Bitcoin begins a bull run, investors will be hoping for a return to its all-time high of $73,750. However, if more selling pressure comes in the future, BTC could fall back below $60,000. Nevertheless, Bitcoin remains the diamond of the crypto bull season, with several analysts hyping the digital asset to trade above $100,000 within the next 12 to 15 months.
BTC trading at $63,405 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from iStockphotos, chart from Tradingview
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