Peter Brandt, a renowned veteran trader with a track record for accurate Bitcoin predictions, has shared his latest forecast: Bitcoin could surge to $135,000 by August or September 2025.
Drawing from historical data, Brandt also underscores Bitcoin's growing superiority over gold as a store of value.
As the cryptocurrency market stagnates, experts anticipate a price rise by the end of 2024, while potential external factors like the U.S. presidential election could influence market dynamics.
Brandt's insights offer valuable perspectives for traders looking ahead to Bitcoin's future trajectory.
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Forecast of $135,000 Between August and September 2025
Veteran trader Peter Brandt, who boasts over 742,000 followers on X (formerly Twitter), shared his latest Bitcoin (BTC) price prediction on October 9, 2024.
Known for accurately predicting the 2018 Bitcoin crash, Brandt frequently posts realistic Bitcoin price forecasts backed by his technical chart analyses.
In his most recent post, Brandt shared a long-term chart (BTC/USD weekly chart) illustrating Bitcoin's price movements from 2010 to 2024. He predicts that Bitcoin's price could rise to $135,000 by around August to September 2025.
Based on historical trends, Brandt pointed out that "Bitcoin's significant price increases have historically occurred in the latter stages of the halving cycle."
He emphasized that the current Bitcoin stagnation, ongoing since March 2024, is "just a minor, temporary pause within a broader trend" and shouldn't be overinterpreted.
While Brandt remains bullish on Bitcoin, he also cautioned that his analysis could be invalidated if Bitcoin's closing price drops below $48,000.
Bitcoin Surpasses Gold as a Store of Value
In his October 9 post, Peter Brandt also expressed his view that "Bitcoin outperforms gold as a store of value." Using the BTC/GLD ratio (Bitcoin-to-Gold price ratio), Brandt illustrated how Bitcoin has increasingly outshined gold.
Brandt argued that "Bitcoin is outpacing gold" and reported that Bayesian analysis (a method of updating probabilities with new data) suggests only a 30% chance of a complete market reversal (downtrend).
Using the BTC/GLD ratio, he noted that the current ratio stands at 23, with support in the high teens and resistance at 32. If Bitcoin surpasses its all-time high (ATH), Brandt predicts the ratio could exceed 100.
Despite the ongoing stagnation in the cryptocurrency market, many analysts and experts are predicting a price surge toward the end of 2024. There are also widespread expectations of price increases for altcoins beyond Bitcoin.
Some caution that the outcome of the U.S. presidential election in November could negatively impact cryptocurrency prices.
However, historical data and chart analysis suggest that a near-term price increase is more likely, making the final months of 2024 a focal point for traders and investors alike.
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Unusual Stability in the Bitcoin Market: Causes of Stagnation and Movements of Large Investors According to PlanB
Bitcoin's prolonged stagnation has puzzled investors, and renowned analyst PlanB suggests large investors may be waiting for the U.S. presidential election results. Read on to learn more.
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