Top Cryptocurrency Analyst Predicts Bitcoin to Reach $150,000 by 2025

A well-known cryptocurrency analyst, Peter Brandt, who gained fame for accurately predicting Bitcoin's 84% decline in 2018, has suggested through two charts that there's potential for Bitcoin to hit $150,000 by 2025. Brandt, who is one of the world's most respected classical chartists, shared charts on Twitter that suggested Bitcoin is making an inverse head and shoulders pattern, which could push the price of Bitcoin to $30,000 by the second quarter of this year.

An inverse head and shoulders pattern is the opposite of the standard head and shoulders pattern and is used to predict the reversal of downtrends. The pattern is identified when the price of a security reaches a low point, rises, falls again below the previous low point, then rises again, and finally falls a third time but not as low as the second trough. After the third trough, the price moves upward towards the resistance level at the top of the previous troughs, according to Investopedia.

Brandt's inverse head and shoulders chart was accompanied by a longer-term outlook chart, which showed Bitcoin potentially moving to $150,000 by 2025. Before hitting that level, the cryptocurrency would hit $70,000 and reserve to correct back down to $33,000, ahead of a major rally that would help the flagship cryptocurrency surpass six digits per coin.

It's worth noting that Brandt also cautioned that "any idiot can make wild guesses about markets" and that in reality "nobody has a clue what any given market will do." Despite this, there are other analysts who are bullish on Bitcoin, with some predictions, including from former Goldman Sachs executive Raoul Pal and from an Ark Invest analyst, pointing to a $1 million price tag in the future.

Additionally, as reported by CryptoGlobe, Bitcoin whales have started to take interest in the cryptocurrency's price movements after it surpassed the $19,000 mark for the first time since November 2022. Bitcoin transactions worth $1 million or more have started to rebound to levels last seen in November 2022, to average over 1,700 per day, moving up along with the cryptocurrency's price.

Overall, Brandt's prediction is just one of many, but it is noteworthy given his past track record of accurately predicting market movements. It remains to be seen if Bitcoin will reach the heights predicted by Brandt and other analysts, but the cryptocurrency's recent surge in price and renewed interest from whales suggests that the market is once again on the rise.