Trading Legend Peter Brandt Says Bitcoin to Skyrocket to $125,000—Here’s Why
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The acclaimed trader Peter Brandt has ignited a debate in the crypto community with his bullish BTC predictions from his valuable experience of 50 years. The trader calls Bitcoin “the trade of a lifetime”, shutting all other altcoins and meme cryptocurrencies.
Brandt shared in an X post that the current year is the 53rd anniversary of the first futures market trade. He believes that there has never been and may never be another market like Bitcoin.
Brandt’s Trade Portfolio
Brandt also shared that he has traded various futures contracts, from Corn to Gold, treasuries to Copper, Sugar to Palm Oil, Lumber to Cattle, stock indexes to shelled eggs, and Iron Ore to Idaho Potatoes. Over the past few years, he has added Bitcoin and Ethereum. However, he often criticizes altcoins and believes BTC is the only crypto asset.
Memecoins exist only because of BTC says Brandt
In an attached blog post, Brandt emphasized the uniqueness of the Bitcoin market. He also stated that the altcoins and meme-coins owe their existence to Bitcoin. What makes the BTC unique as per Brandt is its non-hackable nature, limited quantity, globally accepted, trackable, and almost instantly transactional. He also included Bitcoin’s price behavior quoting that BTC is an attempted hostile takeover of the world’s currency system.
Bitcoin has been rising irreversibly in his chart shared on X since the very beginning and even major corrections like the seven declines in larger than 50% and six greater than 75% did not break its ascending line. The current ascending period in the chart started in late 2022 and continues now. The price goal here is as high as $125,000. He claims that no major advances in other stock, commodity, or publicly traded asset can have the parabolic nature of BTC.
BTC towards Price Recovery
Lately, Bitcoin investors have experienced inflation, regulatory tensions, and geopolitical tensions. However, some analysts see signs of a potential short-term recovery through favorable technical indicators and historical price patterns. As of this writing, BTC is trading at around $63,309, reflecting a 6.3% increase from the previous day’s price point.
Bitcoin recently saw a significant accumulation of over $2.8 billion worth of BTC in just one day, displaying bullish sentiment.
