Popular crypto analyst Peter Brandt, Bitcoin‘in (BTC) suggests there’s a one in four chance of reaching $160,000 in this cycle. The senior analyst noted after applying technical analysis to Bitcoin charts that the $160,000 target is slightly out of reach this year.
Bitcoin’s $160,000 Target
Peter Brandt emphasized to his followers on social media platform X that he expects the current Bitcoin bull market to continue until the fourth quarter of 2025. He stated in his comments:
Remember, I assign a 25% probability to my analysis. I trust a report I published in February more. Here’s a chart from that analysis: Bull market projected until September/October 2025.
The analyst claims in his charts that it took 525 days for BTC to rise from its November 2022 low of around $16,000 to over $50,000. Using this figure, Brandt indicated that Bitcoin has 525 days to reach the $160,000 peak from the $50,000 breakout.
Analyst’s Bullish Scenarios
Experts consider the $160,000 Bitcoin price target a cautious estimate. In February, the experienced trader predicted that Bitcoin could rise up to $200,000 by September 2025. As long as Bitcoin stays above $50,000, this prediction remains valid. Meanwhile, Peter Brandt emphasized that regardless of where Bitcoin rises, we have passed the early days of the BTC bull market, stating:
My money is still on a scenario where we are at the midpoint of the halving bull cycle. However, I always want to ensure that caution and risk management play a key role.
The analyst also mentioned that he has held a significant amount of BTC for about eight years, adding in his final remarks:
I have had a Bitcoin stash since 2016.
Ultimately, popular analyst Peter Brandt evaluates the likelihood of Bitcoin reaching $160,000 at 25%, while predicting the bull market will continue until 2025 and that BTC could reach this level within 525 days after breaking $50,000. At the time of writing, BTC is trading at $63,776.
