Experienced trader Peter Brandt estimates a 25% chance that Bitcoin (BTC) will reach $160,000 during this cycle.
Brandt, who has over 724,700 followers on the social platform X, predicts the current Bitcoin bull market will last until the fourth quarter of 2025.
“Note that I assigned a 25% probability to my analysis. I give more weight to a report from February. Here is a chart from that report, which projects a bull market lasting until September/October 2025.”
According to Brandt’s analysis, it took Bitcoin 525 days from its low of about $16,000 in November 2022 to surpass $50,000. He suggests that Bitcoin will need another 525 days from the time it broke $50,000 to achieve a peak of $160,000.
The $160,000 price target for Bitcoin is seen as a conservative estimate. Earlier in February, Brandt forecasted that Bitcoin could climb to as much as $200,000 by September 2025, assuming it remains above $50,000.
At the time of writing, Bitcoin’s price stands at $63,776.
Brandt emphasizes that the Bitcoin bull market is likely well beyond its early stages.
“My bet is still on the scenario where the halving marked the midpoint of the bull cycle, but I always ensure that caution and risk management are prioritized.”
The trader also mentions that he has been holding onto a Bitcoin portfolio since around 2016.
“I’ve held some Bitcoin since 2016 and physical gold for 40 years.”
