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Update from analyst: 200 thousand dollars is coming in Bitcoin (BTC)
Popular crypto analyst Peter Brandt updated his Bitcoin (BTC) target from $120 thousand to $200 thousand.
The cryptocurrency market is spending the day with bullish excitement. The leading cryptocurrency Bitcoin (BTC) rose from 51 thousand dollars to 57 thousand dollars in the last 24 hours. Bitcoin's rise of over 10 percent energized the crypto market.
The rise of BTC also affected altcoins. Many altcoins exceeded the resistance point and excited investors. On the other hand, Ethereum reached the level of 3 thousand 200 dollars. The cryptocurrency market has entered into bullish expectations.
Popular analyst Peter Brandt updated his Bitcoin target as the market rises. The analyst made a sensational prediction.
Popular analyst of the crypto industry, Peter Brandt, updated his price prediction for Bitcoin (BTC). Brandt raised his bullish target even higher. Crypto investors were surprised by Brandt's new price target.
Sharing a post on X with the title “Bitcoin Update”, Brandt pointed out that the upper limit of the 15-month channel in BTC was exceeded. The analyst reported that with the progress on the chart, a new target has been formed in the bull cycle, which he expects to end between August and September 2025.
Brandt updated $120,000, which is the target zone of the bull cycle in BTC, and stated that the new target is $200,000. Brandt, known for his belief in the bull cycle, also touched upon the negative scenario. The analyst stated that the trend will change if BTC closes below last week's lowest level.
The famous analyst also referred to the scenario where the bull cycle is coming to an end as risk appetite increases. One user commented on Brandt's analysis, "Time to find a photo of my laser eyes." he commented. The analyst tells the user, “Please don't, I will use the laser eyes as a counter indicator.” said. Brandt emphasized that complacency in the market would be a negative signal.