Bitcoin Could Reach $130K Next Year, Trader Says
According to Peter Brandt, a crypto trader, Bitcoin could potentially reach a peak of $130,000 to $150,000 in late August or early September.
This projection is based on the pattern followed by previous post-halving bull markets. The Bitcoin halving, which occurred on April 20 this year, is a scheduled event that happens approximately every four years and cuts mining rewards in half.
Brandt stated in a report on June 2 that halving dates have had significant influence on past bull market cycles, with almost perfect symmetry.
He pointed out that historically, the halving date has typically fallen in the middle of the bull market, marking its beginning and end.
Analyzing data from the last halving on May 11, 2020, Brandt observed that the previous bull market started about 16 months prior and ended approximately 18 months after the halving.
