Wall Street veteran Peter Brandt predicts Bitcoin’s next price target
Last Updated on 19 December 2024 by CryptoTips.eu
Although ‘Whales’ (investors who have more than 10,000 Bitcoins) could still take profits and cause Bitcoin’s rally to pause, it seems the ultimate Wall Street veteran, analyst Peter Brandt, is convinced Bitcoin will go higher. He foresees a price target of at least $122,000 for Bitcoin as of now. And then, according to him, the largest digital currency will look for a new target, but it will have to recalculate that.
Bayesian
Peter Brandt has been discussing stock market charts since 1980 and has years of experience discussing Bitcoin’s price chart. He is a legend of Wall Street as he wrote several books on stock market trading and reading chart signals.
Everything else is a pretender $BTC pic.twitter.com/sKRVFQ8Hkw
— Peter Brandt (@PeterLBrandt) December 15, 2024
He has been looking at Bitcoin for years and since the end of 2023 he became very bullish on the largest digital currency again.
On his social media channel on X he showed a Bitcoin chart with a bull flag pattern, showing a target price of $122,000.
When one of his followers asked him why he had changed his position since the summer (when he still feared a correction and a drop to $50,000), Peter replied.
“I am a Bayesian and still am operating on two possibilities – one calls for $150-200K in 2025, the other calls for $50k. Right now the odds favor the former by 4 to 1, but that can change”
When asked about a price target for next year, Peter currently predicts a price of $140,000 for August or September 2025. After that he plans to take profits as he is still convinced that a correction would ultimately follow.
