Peter Brandt, a prominent trader and chartist, has warned bitcoin investors about worrying market patterns. He noted that BTC has gone 30 weeks without a new all-time high, resulting in a massive drop of up to 75%. While Brandt remains optimistic, predicting a bitcoin price of $135,000 by the end of 2025, he warned that a close below $48,000 could undermine his analysis.
Peter Brandt Warns Bitcoin Enthusiasts About Market Trends
Peter Brandt, a well-known trader and chartist, discussed the concept of “market analogy” on social media platform X on Friday, focusing specifically on bitcoin’s price trend. He pointed out that BTC has now gone 30 weeks without hitting a new all-time high (ATH).
Based on historical data, Brandt emphasized that whenever bitcoin fails to reach a decisive ATH within such a time frame, the market typically faces a sharp decline, witnessing losses of 75% or more. Brandt's observation is a warning message for bitcoin investors, as historical trends suggest that a significant price decline could occur if the cryptocurrency fails to reach a new all-time high.
Market analogies involve comparing current market conditions or price patterns with similar historical patterns. Traders and analysts use these comparisons to predict future market movements, assuming the patterns tend to repeat. By identifying analogies, they seek insights into potential future price trends or corrections based on past market behavior. In a subsequent post, the trader clarified:
Just an observation. Bitcoin is the largest tradable asset in my net worth. People who can't see both ways usually get into car accidents.
The veteran trader shared his bitcoin outlook on Wednesday in another post on X, offering a broad analysis of BTC’s price trend. He explained that significant bitcoin price increases typically occur in the latter stages of a four-year halving cycle, where mining rewards are reduced.
Despite the market pause, especially since March 2024, Brandt remains bullish on bitcoin’s performance, targeting $135,000 by August or September 2025. However, he also warned that a close below $48,000 would invalidate his analysis and require a reassessment of the market. Overall, he remains bullish but recognizes the risks if key support levels are broken. The popular trader described:
My target is $135k by Aug/Sep 2025... Closing below $48k negates my chart analysis.
What do you think about Peter Brandt's analysis of the current bitcoin market trend and his observations? Let us know in the comments section below.
