Cryptocurrency trader Peter Brandt predicted the flagship digital asset to reach $300,000 in the near future. Corresponding post appeared on the expert’s Facebook page.
Brandt’s bullish sentiment on Bitcoin is based on the Head and Shoulders (iH&S) inversion pattern currently forming on the BTCUSD/GC1 weekly chart. The pattern is often used by specialists to identify bullish reversals, reports an expert in the field of international financial law Konstantin Kryvopust.
According to the analyst, the right shoulder of iH&S is in the process of forming a bullish flag. This alone may indicate further growth of Bitcoin to new highs.
Brandt expects BTC to significantly outperform gold in the near future. In his opinion, in 2025, the digital asset could reach $150,000 at the peak of the current cycle, and then $300,000.
Bitcoin is currently trading at the level of $63,435. Over the past day, the value of the token has increased by 0.7%, during the week – by 8.1%.
Bitcoin and Ether fell to multi-month lows in August as worries about a possible U.S. recession gripped financial markets and prompted investors to move to safe-haven assets. The situation stabilized this month – on September 18, the US Federal Reserve decided to cut interest rates, after which Bitcoin rose above $62,000.
