Renowned commodities trader and chart analyst Peter Brandt has updated his projected Bitcoin (BTC) price target for September 2025, raising it from $120,000 to $200,000. This adjustment follows a recent breakout in the cryptocurrency’s price, resulting in gains of around 10% and pushing Bitcoin beyond a 15-month trading channel.
As the CEO of Factor LLC, Brandt asserts that Bitcoin’s upward movement above the upper boundary of a multi-month channel signals a significant technical breakout. In a recent post on X, he expressed his belief in the potential for further upward movement within the specified timeframe.
Brandt anticipates that the current bullish cycle will likely conclude by August or September 2025.
Bitcoin Update
With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000. $BTC
A close below last week's low will nullify this interpretation pic.twitter.com/19ZXpAQW0v— Peter Brandt (@PeterLBrandt) February 27, 2024
Analysts’ Positive Outlook on Bitcoin Price Movement
In recent assessments, financial analysts have expressed a sense of optimism regarding the trajectory of Bitcoin’s price. This sentiment is grounded in several key factors driving the cryptocurrency’s potential growth.
One significant development contributing to analysts’ optimism is the increasing institutional adoption of Bitcoin. Institutional investors, including prominent corporations and investment funds, are increasingly recognizing Bitcoin as a legitimate asset class and incorporating it into their portfolios. This institutional influx is seen as a bullish signal for Bitcoin’s long-term prospects, as it brings with it greater liquidity and stability to the market.
Moreover, analysts point to the ongoing mainstream acceptance of Bitcoin as a payment method by major companies and retailers. Notable announcements from companies such as PayPal, Tesla, and Square, among others, indicate a growing acceptance of Bitcoin as a medium of exchange. This broader acceptance enhances Bitcoin’s utility and fosters greater confidence among investors.
Additionally, the macroeconomic environment has played a role in shaping analysts’ bullish outlook on Bitcoin. Heightened inflation concerns, exacerbated by expansive monetary policies and fiscal stimulus measures, have prompted investors to seek alternative stores of value. Bitcoin, with its fixed supply and decentralized nature, is increasingly viewed as a hedge against inflation and currency devaluation.
Furthermore, advancements in Bitcoin’s infrastructure, such as the Lightning Network for faster and cheaper transactions, and improvements in regulatory clarity have bolstered confidence in the cryptocurrency’s future prospects.
Overall, analysts remain optimistic about Bitcoin’s price movement, citing growing institutional adoption, mainstream acceptance, macroeconomic factors, and technological advancements as key drivers of its potential upward trajectory.
He perceives this trend as a “contrary indicator,” suggesting that it could potentially dampen the ongoing upward momentum.
Please don't. I will use laser eyes as a counter indicator.
— Peter Brandt (@PeterLBrandt) February 27, 2024
The price of Bitcoin hits its highest level in two years.
Monday witnessed Bitcoin reaching its highest point in over two years, hitting $57,000, signifying a 9% surge that briefly touched this milestone, a level not seen since November 2021, before retracting to around $56,500.
Moreover, Bitcoin’s market capitalization has once again surpassed $1.1 trillion, reinstating its position of prominence. Over the past 30 days, the asset has demonstrated a remarkable 34% increase, currently standing just 18.5% below its all-time high of $69,000.
Fidelity’s Director of Global Macro, Jurrien Timmer, has put forth an intriguing forecast, suggesting that Bitcoin’s market cap could potentially ascend to a quarter of the “monetary gold” market, reaching a staggering $6 trillion. This projection hinges on Bitcoin solidifying its status as digital gold and a reliable store of value.
Timmer’s analysis draws a parallel between the proportion of gold held for monetary purposes, estimated at 40% of the world’s above-ground gold, and the prospective market value of Bitcoin. Currently, monetary gold, excluding jewelry or industrial applications, is valued at approximately $6 trillion, with central banks and private investors holding a significant portion.
The Fidelity Director contends that Bitcoin has the potential to seize a substantial segment of this market, building upon its current $1 trillion valuation as a springboard for further expansion and the attainment of higher Bitcoin price targets.
