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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 for this projection, he explained, is that bitcoin's price surpassed its 15-month ascending channel
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.