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Bitcoin Merely Hundreds Away From All-Time High — Is Peter Brandt's 2022 Prediction About To Come True?

Published 05/03/2024, 03:21
Updated 05/03/2024, 04:40
© Reuters Bitcoin Merely Hundreds Away From All-Time High — Is Peter Brandt's 2022 Prediction About To Come True?

Benzinga - Veteran trader Peter Brandt foresaw Bitcoin’s (CRYPTO: BTC) rise to new heights in 2022 when the apex cryptocurrency was valued at around $22,500.

Responding to a conversation on X, formerly Twitter, Brandt agreed with a user’s perspective about Bitcoin’s future potential. On June 19, 2022, when Bitcoin faced a drop, Brandt responded to a comment, “Agree completely Tuur. IMO we will not make a new ATH until early 2024 but by then we will be in a giant uptrend.”

Some members of the crypto community on X are recognizing Brandt’s past remark as Bitcoin rallies, surpassing one $1,000 milestone after another. On Monday, Bitcoin soared above $67,000, approaching its all-time high of $69,000.

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Last week Brandt painted an optimistic picture of Bitcoin’s growth. He said, “With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000.”

Brandt also commented on the social media trend of using "laser eyes" to express bullish sentiment towards Bitcoin, suggesting that it could be a bad omen for the cryptocurrency.

"Just as I did in 2021, I will use laser eyes on ‘X' as a contrary indicator. So, people, if you want Bitcoin to remain in a strong trend please do not adopt laser eyes on your social media picture. Too many laser eyes will be the KOD."

Meanwhile, Markus Thielen, the Head of Research at 10x said in a report that Bitcoin is poised to hit all-time high levels by the end of the week. He notes the lack of sellers despite efforts to liquidate leveraged long positions. Thielen said in his report, “Everybody Will Be Astonished by Bitcoin's Price Action This Week."

Price Action: At the time of writing, BTC was trading at $68,075, up 7.06% in the last 24 hours, according to Benzinga Pro.

Photo via Shutterstock

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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