Following the recent surge in the price of the largest cryptocurrency by market capitalization, Bitcoin (BTC), several realistic and unrealistic predictions have been dropped by top industry players.
Peter Brandt, a veteran investor and crypto analyst, joined the BTC price prediction game today after previously calling former Coinbase CTO’s BTC price prediction ‘stupid’.
Balaji Srinivasan, a one-time Chief Technology Officer at the largest United States-based crypto exchange recently submitted that Bitcoin would touch $1,000,000 per coin in the next three months.
Peter Brandt’s BTC Expectation
According to Brandt, all predictions are just guesses. Submitting his guess on Bitcoin price, he said the asset is 12 months away from hitting new all-time highs (ATHs).
This prediction came in response to a tweet from BigCheds that countered the $1,000,000 BTC price forecast from Srinivasan.
The pseudonymous analyst BigCheds stressed that BTC at $1M within the next 90 days is highly impossible. “In case you are wondering: $BTC highly unlikely to come even close to $50k in the next 90 days, let alone $1M,” he wrote.
In case you are wondering: $BTC highly unlikely to come even close to 50k in the next 90 days, let alone 1M
— Cheds (Trading Quotes) (@BigCheds) March 20, 2023
Notably, Brandt made his forecast with reference to past bullish cycles. “New ATHs in April – June 2024 would be very much in line with past cycles,” he wrote.
Dangerous to have opinions that are without fact. New ATHs in Apr-Jun 2024 would be very much in line with past cycles. The amt of disinformation in crypto is amazing to me pic.twitter.com/SrSXzAbGrD
— Peter Brandt (@PeterLBrandt) March 20, 2023
While the upcoming Bitcoin halving could cause BTC to rally as seen in past scenarios, Brandt remarked that “halving is way overrated and a non-event.” The next halving, which is the fourth, is expected to occur in early 2024 at block 840,000.
On the whole, Brandt is strongly bullish on BTC. Per a tweet yesterday, he jabbed traders who base their analysis on Chicago Mercantile Exchange (CME) gaps formation alone, challenging them to short BTC.
— Peter Brandt (@PeterLBrandt) March 19, 2023