Bitcoin could potentially reach a peak of $130,000 to $150,000 between late August and early September, following patterns observed in previous post-halving bull markets, according to crypto trader Peter Brandt.
The Bitcoin halving event, which occurred on April 20, is a scheduled event approximately every four years that cuts mining rewards by half. Brandt highlighted in a June 2 report that these halving dates have historically marked significant points in bull market cycles.
Brandt noted that historically, the halving date has been situated roughly halfway between the start of a bull market and its peak.
For instance, the last Bitcoin bull market began about 16 months before the May 11, 2020, halving and concluded around 18 months later, according to his analysis.
The two previous halvings, on July 9, 2016, and November 28, 2012, exhibited similar trends.
Brandt suggested that if this pattern continues, “the next bull market cycle high should occur in late Aug/early Sep 2025.”
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Despite the historical patterns, Brandt emphasized that predicting Bitcoin’s cycle high is not foolproof, stating that “no method of analysis is fool-proof.”
However, if the past growth pattern continues, he estimates a bull market high “in the $130,000 to $150,000 range.”
Considering the possibility of Bitcoin already peaking, Brandt’s analysis indicates that the current bull market started on December 17, 2022, when BTC was trading around $16,800.
Since then, it has surged over 300%, reaching $67,882, according to Cointelegraph Markets Pro.
Although Bitcoin has dropped from its all-time high of $73,679 on March 14, Brandt believes there’s a 25% chance that Bitcoin has already reached its bull market top.
He noted that the gains in each bull cycle have been decreasing compared to the previous ones.
Brandt warned that if Bitcoin fails to achieve a new all-time high and falls below $55,000, he would consider the probability of the cryptocurrency undergoing an “exponential decay” to be higher.
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