The expectation for Bitcoin to reach its peak value in August-September remains in force.
On May 1, Brandt published a chart showing the dynamics of BTC price changes, which depicts a parabolic slope in red lines. Peter suggested that from August to September, the cryptocurrency's price would touch the upper line of the figure, which would range from $125,000 to $150,000.
Bitcoin price fluctuations chart compiled by Brandt
On August 14, the price of BTC updated its historical maximum, rising to $124,624. Therefore, one can assume that another upward impulse will occur soon, pushing the coin's price to $125,000 or higher. After that, Peter believes that the Bitcoin price will drop by 50%, meaning the cryptocurrency could decline to $62,500 during the bear trend.
Yesterday, Brandt asked the host of the finance podcast The Wolf Of All Streets, Scott Melker, what he thinks about the forecast made in May. Scott responded as follows: 'I think you did great.'
Apparently, Melker shares Peter's point of view and believes that the bullish rally in the Bitcoin market, which started in January 2023, will end within the next one and a half months. In this case, a downward trend will emerge, which will be observed for at least about six months.
