When Will Bitcoin Hit New All-Time Highs? Veteran Trader Peter Brandt Weighs In

Get insights from Peter Brandt, a trader renowned for his accurate market predictions.

Find out why he trusts weekly line-break charts and how his forecast stacks up against other experts. Don't miss out on these crucial pointers for your crypto investment journey.

Peter Brandt Predicts "No New Highs Until Q3 2024"

Peter Brandt, a prominent investor known for accurately predicting the Bitcoin price crash of 2018, shared his long-term Bitcoin price chart and insights on October 25, 2023.

Although he did not specify an exact price prediction, he expressed the view that "Bitcoin has already bottomed out as of November 2022."

Regarding when Bitcoin will reach a new all-time high, he stated that "no new highs will occur until the third quarter of 2024."

While some experts predict that "BTC will reach new all-time highs within 2023," Brandt believes that "new highs won't occur until the latter half of next year."

He also mentioned that "price fluctuations will continue in the meantime."

Trustworthy Charts are "Weekly Renko graph"

In a post on the 26th, Peter Brandt mentioned that the Bitcoin chart he trusts the most is the "Weekly Renko graph."

According to him, "This chart has very few false movements and has only given wrong signals five times in the past five years."

After falling to around $16,000 in November 2022, the Bitcoin price started to recover. In the weekly Renko graph trusted by Brandt, a "buy signal at $22,000" was present.

Brandt also disclosed that he "actually uses the weekly Renko graph himself."

Consensus Points to Bull Market After 2024 Halving Event

Although many experts anticipate Bitcoin prices exceeding $660,000, the majority predict that "a genuine bull market will arrive after the halving event scheduled around April 2024."

They align with Brandt's prediction of "new all-time highs in the latter half of 2024."