By Michael Scott
Veteran trader Peter Brandt predicts Bitcoin to $125,000 by January 1, citing bullish trends.
Renowned trader Peter Brandt made a bold forecast that Bitcoin could soar above $125,000, propelled by recent bullish trends and strong historical price actions. The bold prediction shakes the market coincidentally with the BTC surge to set a new all-time high (ATH) at $82,379.60.
Brandt considers BTC is on course to break through and close above $120,000 by January 1. The renowned chartist offers an optimistic outlook for BTC as it pushes the peak price every day. A look into the daily charts shows Bitcoin rallied to change hands above $82,000 per CoinGecko data.
Aware of the recent uptick, now at 20% in the past two weeks, Brandt notes the March-October 2024 cycle offered the perfect opportunity to buy the dips. In an update on X, the trader reiterated that BTC’s momentum to mark-up hardly looks back.
Brandt observes that BTC has historically sustained runs that potentially could rest at $125,000 by New Year. The chartist deploys the “time/price” Bayesian probability approach on the Jan-Mar 24 run, supporting BTC’s forecast to hit $125,000.
Bayesian Analysis Confirms $125K Bitcoin Target
The Bayesian analysis considers priors as the initial data points and assumptions capable of predicting future outcomes relative to past events. Brandt utilizes Bitcoin’s price action captured Q1 2024 as the “prior” baseline pattern indicating how BTC could behave if such conditions recur.
Brandt profiled Bitcoin as locked within the sweet spot of the halving cycle, that historically attributed to stimulating price growth. The trader explains that while halving events reduces the mining rewards per block, it splits the bull market into a pair of phases. The process delivers predictable timing patterns.
Based on the prevailing cycle, Brandt forecasts BTC could print new peak levels between $130K and $150K by August 2025. The trader emphasizes the volatility and growth potential if BTC sustains its bullish trend.
Multiple analysts echo the bullish projection by Brandt. Notably, the Vaneck analysts project sustained Bitcoin momentum to $3M by 2050. The bullish analysts drawn from the asset management firm following the post-election optimism that Donald Trump would honor the promise of making BTC a reserve asset.
Bernstein analysts consider Bitcoin will hit $200,000 by Q4 2025. American banking giant JPMorgan revised its forecast to a more optimistic outlook by the New Year.
The Wednesday, November 6 statement by JPMorgan affirmed that it was positive on BTC. The analysts attribute the strong outlook to the pro-crypto stance portrayed by Donald Trump as he sought to return to the Oval Office.
Bitcoin 30% Surge Sets New Peak
Bitcoin is up 30% in the past month to cross the $82.5K. The leap set the new peak, thereby attracting the investors’ and analysts’ interest alike.
The jump saw BTC surpass the previous peak, a key win spotlighting Bitcoin’s enduring appeal and renewed interest in crypto assets.
The prevailing BTC market indicators suggest a strengthening trend particularly as its relative strength index (RSI) hit 79. It shows robust demand that is yet to tip into the overbought territory.
Further, the Stochastic is steadying at 96 portraying the sustained buying interest. The oscillators such as the Commodity Channel Index (CCI) sit at 182, suggestive of high activity levels. Such is yet to stop short of the sell signal.
The momentum indicators affirm the bullish trend, particularly with the moving average convergence divergence (MACD) level testing 3,428. Additionally, momentum hit 12,281.
The BTC appears to reinforce favorable moving averages in various multiple timeframes. In particular, the 10-day exponential moving average (EMA) is at $75,746, and $68,447 for the 50-day EMA both aligned with the continued gains.
With Bitcoin consolidating above $85K, the majority of investors bank on the potential for upward momentum.
The buoyant crypto market coupled with positive technicals bolsters the path for further price rise. With BTC yet to slow down, the performance sparks projection it could sustain the high market management levels to surpass $90,000 this week.