Veteran analyst Peter Brandt, BitcoinHe warned that the price of $62,676 (BTC) could face a serious drop if it does not record new highs for a while. Here is the analyst’s remarkable Bitcoin analysis.
Bitcoin's Latest Price Performance
Speaking to his 742,500 followers on social media platform X, Brandt said that Bitcoin has struggled to launch a sustained rally for eight months, which could signal a risky situation.
The famous trader commented on the current stagnation of the market with the old saying: “If the market that should go up is not going up, it usually cannot go up.” This observation emphasizes the weakness seen in price movements.
Brandt, noting that Bitcoin is one of the largest assets in his portfolio, presented his observations as “a situational assessment rather than a prediction.” He called on investors to take a balanced view, saying, “Those who do not pay attention to both sides will eventually crash.”
Last week, Brandt painted a positive picture of BTC’s future potential, reminding us that halving cycles can provide strong gains for Bitcoin, describing the pause in March 2024 as an insignificant break.
Forward-Looking Goals and Risks
Brandt predicts that Bitcoin could reach $135,000 in the August-September 2025 period. However, this forecast is conditional on the price not falling below $48,000. He noted that if this level is broken, the analysis may lose its validity.
The Bitcoin price is currently at $62,741. The market is curiously watching whether the trader's predictions will come true.
Brandt’s comments point to the importance of a balanced and cautious strategy in the Bitcoin market. Past performance data and observations from experienced figures can guide investors to make more informed decisions. As volatility continues in the cryptocurrency market, it seems more important than ever to be prepared for possible scenarios.