#BTC# #200K# #ETH# #ETH#

Bitcoin will hit $200,000": Peter Brandt
Renowned American trader, Peter Brandt, who has 50 years of experience trading in the financial market, raised his bullish expectations for bitcoin (BTC).
"The target for the current bull market cycle, scheduled to end in August-September 2025, is being raised from $120,000 to $200,000 (USD)," he said. The reason, he explained, is that bitcoin's price surpassed its 15-month ascending channel, according to technical analysis.
This comment came last night after bitcoin hit USD 57,000, its highest in more than two years. It has not touched this figure since November 2021, when it recorded its all-time high (ATH) of USD 69,000.
Brandt made the caveat, however, that a close below last week's low will nullify his interpretation. Therefore, it should remain above USD 51,800 this week.
The specialist warned that, as a contrary indicator of this projection, he will put his eyes with red laser beams in his profile picture of the social network X as he did in 2021. This is a symbol used by coin enthusiasts who expect it to reach USD 100,000.
For Brandt, if this symbol is used en masse, it could mean an exaggeration of bullish expectations regarding the underlying security. "If you want bitcoin to stay on a strong trend, don't adopt laser eyes on your social media image," he said.
The halving anticipates a possible new price record by 2025
Brandt previously detailed that there could be new ATHs for BTC in the third quarter of 2024, as well as in 2025, ahead of the halving. Such an event, which halves bitcoin's issuance every four years, has always fueled months of upside to a new all-time high price around a year later.
The next halving will be in April 2024, so if history repeats itself, the coin would see a new record next year. Although it should be noted that the current cycle is anomalous, since today the price reached 20% below the ATH, something that does not usually happen two months before the aforementioned event.