Peter Brandt predicts that Bitcoin could rise to $125,000 by New Year, citing bullish trends and strong historical patterns of the cryptocurrency's price action.

Peter Brandt sees a path to Bitcoin at $125K as the market enters uncharted territory

Experienced trader and renowned chartist Peter Brandt shared an optimistic forecast for Bitcoin on Sunday after the cryptocurrency surpassed its historical highs.

In a post on the social platform X, Brandt noted that from March to October 2024, Bitcoin consistently provided buying opportunities during dips. 'When BTC decides to 'pack the price', it never looks back,' he emphasized. 'Throughout its history, when BTC takes off - it really takes off.' Brandt outlined a possible path for Bitcoin to reach $125,000 by New Year using a 'time/price' Bayesian probability model. 'Based on the run from January to March '24 as the only 'time/price' of initial Bayesian probabilities, the price could reach $125K by New Year,' he noted.

In Bayesian analysis, 'prior data' refers to initial data points or assumptions that help forecast future outcomes based on past events. Brandt uses Bitcoin's price dynamics from January to March 2024 as his 'prior' - essentially as a baseline template that may indicate how Bitcoin might behave under similar conditions in the future.

Last week, Brandt reiterated that Bitcoin is at an 'ideal point' in its halving cycle, historically associated with significant price increases. He explained that halving events, which reduce mining rewards, typically divide bullish markets into two distinct phases, creating predictable time patterns. Based on this cycle, Brandt predicts that the price of Bitcoin could peak between $130,000 and $150,000 by August or September 2025, highlighting its volatility and growth potential if the bullish trend continues.

Many analysts have offered their price predictions for Bitcoin. The asset management company Vaneck predicts that BTC could reach $3 million by 2050 if it becomes a reserve asset held by global central banks. Meanwhile, analysts from Bernstein predict that BTC could reach $200,000 by the end of 2025. JPMorgan is also optimistic, with their analysts recently stating: 'We are bullish on Bitcoin through 2025.'