Veteran trader Peter Brandt expects Bitcoin to rise to $150,000 this year — but there’s a problem
Legendary trader Peter Brandt says Bitcoin (BTC) could reach $150,000 this year without ruling out a possible bearish scenario instead.
Brandt He tells His 773,500 followers on social media platform X said bitcoin could rise by roughly 50% from its current value.
However, he warns that based on Bayesian analysis, a statistical method that evaluates future outcomes based on historical trends and new data, there is still a possibility that Bitcoin could suddenly fall by more than 50%.
Introduction: What I say here will completely confuse those of you who are dogmatic, one-narrative investors.
I am a Bayesian, and at the same time open to multiple narratives.
I have forecast $135,000+/-$15,000 for BTC in 2025. But, as a Bayesian, I still identify the possibility that BTC will build a massive top to bottom of 50%+. Do I hedge my bets based on Bayesian priors – of course I do. The awareness of risk comes from being a professional trader for 50 years.
Looking at his chart, the analyst suggests that Bitcoin could decline if it completes a bearish Head and Shoulders (H&S) pattern on the daily chart. The head and shoulders pattern usually indicates that an asset is losing momentum and could reverse its upward trend if the price falls below the support structure.
However, Brandt also says that Bitcoin appears to be flashing a bullish price pattern using the terms “shock,” “hump,” “recession,” and “dump.” This pattern, which was also seen last year before Bitcoin rose from $50,000 to over $100,000, suggests that Bitcoin may “fall” to around $84,000 before recovering and rising towards $150,000.
“The big question on my mind is whether Bitcoin will have another dump (or more prolonged congestion) before the pump. Remember, markets in general don’t [soar] Until retailers get tired.”
Bitcoin is trading for $100,029 at the time of writing.
Brandt next Yazan In Ethereum (ETH) competitor Cardano (ADA). He believes that ADA has hit the local market bottom at $0.81 on the weekly chart and is poised for a massive breakout that will turn $1.09 into support.
“Altsison? No doubt about it, Cardano has hit the bottom of a major bull market.”
ADA is trading at $1.09 at the time of writing, up 4.9% in the past 24 hours.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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