How Low Can Bitcoin Go? Renowned Trader's BTC Price Predictions

As Bitcoin continues its downward trajectory, all eyes are on what the future holds for the cryptocurrency.

Veteran trader Peter Brandt, who accurately forecasted the 2018 Bitcoin crash, offers new insights into BTC's potential bottom and future recovery.

With crucial support levels identified and a long-term bullish outlook, Brandt's analysis provides a comprehensive view of where Bitcoin might be headed next.

Is $60,000 the Next Crucial Support Line?

The price of Bitcoin (BTC) has been on a downward trend since around June 7th, 2024, and as of June 15th, it has fallen to approximately $65,000.

The cryptocurrency community is focused on "how far Bitcoin's price decline will continue." Veteran trader Peter Brandt, known for accurately predicting the 2018 Bitcoin crash, suggests that BTC could drop even further from its current levels.

Brandt identifies three critical support levels for Bitcoin at $65,000, $60,000, and $48,000. He explains that if BTC falls below $65,000, it could potentially drop to $60,000, and if it falls below $60,000, it could go down to $48,000.

However, Brandt also forecasts a potential rebound after the decline, suggesting that "Bitcoin may bounce back after dropping to $60,000."

Warnings of Bitcoin's Decline Are Not New

Peter Brandt has been warning about the potential decline of Bitcoin's price since April of this year. In a blog post, he stated, "There is a 25% chance that Bitcoin has already hit its peak in this bullish cycle."

This prediction is based on the phenomenon known as exponential decay. He noted, "The price increase rate in each of BTC's bullish cycles has been about 20% of the previous bull market's increase rate.

Thus, the current cycle's rate is about 4.5 times, indicating that BTC may have already reached its peak."

At the time, optimism for further Bitcoin price increases was high, and Brandt's prediction received little attention. However, given that BTC has not surpassed its previous all-time high and has since declined, his forecast appears to have been accurate.

He also predicted, "If BTC has already peaked, it could fall to the $30,000 range or to the lows of 2021."

Potential for New All-Time Highs in the Long Term?

In the aforementioned article, Peter Brandt mentioned, "If BTC has peaked, we have no clue what will happen next."

However, he also stated, "From a classic chart analysis perspective, such a decline can be interpreted as the most bullish trend in the long term."

He cited the "gold price chart from August 2020 to March 2024" as an example of such a chart structure, where the price of gold experienced a significant rise after a period of decline.

In his latest post, Brandt suggests that "BTC could rebound after falling to around $60,000," predicting that Bitcoin might exhibit similar price movements to the gold chart if this scenario materializes.

Additionally, he recently predicted, "BTC could hit an all-time high between $130,000 and $150,000 around late August to early September 2025."