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Peter Brandt sees $150,000 by 2025

Bitcoin's most prominent critic and veteran cryptocurrency trader, Peter Brandt, has shared a bold price prediction. According to him, if Bitcoin can reclaim the broken trend line, it could surge to a cycle peak of $125,000-$150,000 by August or September 2025. But Brandt also warns that after that, Bitcoin could face a sharp correction of more than 50%. Let's dive in! A parabolic rebound could lead to $125,000-$150,000. Yes, you read that right, Bitcoin could be on its way to a six-figure price. The chart shared by Peter Brandt highlights a red curved line, which represents a long-term parabolic trend that has supported Bitcoin's largest runs in the past. However, Bitcoin recently broke below this curve, raising doubts about whether it can recover its strong upward momentum. As of now, Bitcoin is hovering around $96,797, with its 18-week moving average (WMA) near $89,027, and its simple moving average (SMA) around $86,052. If Bitcoin can rebound above the broken-down curve, Brandt sees a clear path towards his price target of $125,000 to $150,000, by August and September 2020. Furthermore, the chart also includes a red dot around the $130,000 level, representing the possible cycle high in case of a parabolic resurgence.From $96,000 to $150,000... then a 50% drop? Brandt warns that after reaching the predicted high, Bitcoin could experience a 50% or larger correction, consistent with the behavior of the previous cycle. A 50% drop from $125,000 and $150,000 would bring BTC back to around $62,000 and $75,000. So while the uptrend is exciting, the risk of volatility is just as real. This type of correction has happened before, and Brandt expects history to repeat itself. What about the $1 million price target? Following Brandt's tweet, a user raised a key question: Could Bitcoin hit $1 million if it stayed within this long-term upper curve? Brandt gave a straightforward response: "The only scenario that could change that is a sudden collapse of the US dollar, which could cause an extreme trend through the upper curve—German ALA interest rates in the 1920s." In simple terms, Brandt believes that for Bitcoin to break through this long-term channel and target $1 million, it would take an extreme event, such as a US dollar collapse or a major global financial crisis. Otherwise, the chart suggests that these levels may remain out of reach in the current trend.