Bitcoin Rises to $67,600, Aiming for New Peak Post-Halving

Trader Peter Brandt predicts that Bitcoin's bull run is mirroring previous post-halving cycles. If this trend continues, Bitcoin could soar to $130,000 by late next year.

Azcnews Breaking Bitcoin New Peak Halving

Bitcoin began the week at $67,600, buoyed by positive market signals. According to cryptocurrency trader Peter Brandt, Bitcoin could peak between $130,000 and $150,000 from late August to early September if it follows the trajectory of previous post-halving bull markets.

In his June 2 report, Brandt explained that the recent Bitcoin halving on April 20, an event occurring approximately every four years that halves mining rewards, has historically marked almost perfectly symmetrical bullish cycles. He noted that historically, Bitcoin halvings have occurred around the midpoint between the onset of a bull market and its peak.

1ed2990b 3788 40bc bff1 22897479cb13Chart showing Bitcoin halving dates and claimed bull cycle starts and peaks. Source: Peter Brandt

Brandt’s analysis indicates that the most recent Bitcoin bull market began roughly 16 months before the May 11, 2020 halving and concluded approximately 18 months afterward. He observed that the previous two halvings—on July 9, 2016, and November 28, 2012—followed a similar pattern. “If this sequence continues, the next bull market peak would occur in late August/early September 2025,” Brandt wrote. He cautioned that no analytical method is flawless when predicting Bitcoin’s cycle highs, but past peaks have followed a similar growth pattern. If this trend persists, he estimates the bull market’s peak to be “in the range of $130,000 to $150,000.”

Related: Bitcoin Trades at $68,400 Amid Easing Inflation

Bitcoin May Have Peaked

b45cdf47 ddff 467e bbca 4901b120dd6f

Brandt’s analysis identifies December 17, 2022, as the start of the current bull market. At that time, BTC was trading around $16,800, but it has since surged over 300% to reach $67,640.

However, Bitcoin has declined from its all-time high of $73,700 on March 14. Brandt estimates a 25% chance that Bitcoin has already peaked for this bull market, given that the gains of each successive bull cycle have been diminishing. If BTC fails to reach a new all-time high and falls below $55,000, Brandt indicates he will increase the probability that the cryptocurrency is undergoing an “exponential decay.”

0.0/5

Love

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

What Is Zksync Information About Zk Token

Editor Choice | Research | research

What is zkSync? Information about ZK Token

One of the most prominent projects in the realm of Layer 2 is zkSync, which is considered a solution comparable to Arbitrum and Optimism. So, what is zkSync? Is ZK token worth investing in? Let's find out!

How To Participate In The Memefi Airdrop

Airdrops | Editor Choice

How to Participate in the MemeFi Airdrop

Guide to Participate in Memefi Airdrop on Telegram - A Game Developed Similar to Notcoin and Heavily Supported by the Super Project - Linear Network.

How To Participate In The Fhenix Airdrop

Airdrops | Editor Choice

How to Participate in the Fhenix Airdrop

Fhenix is a Layer-2 solution for Ethereum that has successfully raised 22 million USD from various prominent investors. Join AZCNews in participating in the Fhenix Airdrop today!

Azcnews Market Dip Offers Opportunity For Investors To Buy The Dip

News

Market Dip Offers Opportunity for Investors to Buy the Dip

Despite Bitcoin falling below $65,000, some bullish speculators are still defending the market.

Binance Announces Mew Memecoin Listing On Binance Futures

Editor Choice | Altcoin

Binance Announces MEW Memecoin Listing on Binance Futures

Binance Exchange Announces Listing of Cat in a Dogs World (MEW) - A Memecoin Developed on Solana, on Binance Futures.