- Expert trader Peter Brandt forecasts Bitcoin’s next all-time high in Q3 2024.
- He cautions against overconfidence in predicting cryptocurrency market movements.
- Brandt analyzes historical data, identifying $34,587 as a potential bottom for BTC’s next bull run.
Peter Brandt, a renowned proprietary trader with decades of experience in the field, has shared his prediction for when crypto market participants can expect the next Bitcoin (BTC) all-time high (ATH).
Brandt first underscored that no one can accurately predict the future trajectory of cryptocurrencies like Bitcoin as the market is programmed to deliver unexpected twists and turns. According to the expert trader, “Anyone who declares they know the future path of any market is a fool. Markets will ALWAYS surprise.”
Regardless, Brandt expressed a conviction that Bitcoin has reached one of the lowest points to be witnessed and that it is poised to soar to new all-time highs. According to him, new highs for Bitcoin will not surface until the third quarter of next year, 2024.
Accompanying Brandt’s post on X (formerly Twitter) was a BTC chart of multiple years, which he described as a blueprint. He stated that he had successfully utilized the blueprint for Bitcoin for approximately two years.
Notably, the chart captured Bitcoin’s performance from 2011 to date alongside the expected path for 2024. Specifically, the chart illustrated the length of time Bitcoin wallowed in previous bear cycles before breaking out significantly, essentially a “high-to-low-to-new-high duration.”
Between 2011 and 2013, the chart suggested Bitcoin had 21 bearish months, crashing 94%. However, it crashed by 87% and stayed 41 months in the red in the succeeding cycle. In the most recent past Bitcoin bull, the coin had 36 months of bearish trend.
Meanwhile, the most prominent digital asset has lingered 41 months in bears since 2021 and is down by 78%. Therefore, the professional trader believes Bitcoin’s current $34,587 is about the bottom point before the next peak.
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