Seasoned trader Peter Brandt expects Bitcoin to hit $200,000 by 2025. This increases his earlier $120,000 estimate. Brandt believes the current bull run will end around August or September 2025.
Bitcoin's latest surge above $55,000, breaking above a 15-month channel, supports his revised outlook. Brandt's tweet nailed the breakout, indicating a bullish surge. He believes Bitcoin will continue to trade above $50,500.
Furthermore, new data suggest that the average buy-in price for investors who held Bitcoin during the latest cycle's bullish rally has exceeded previous levels, indicating a hopeful outlook. Those who have held for 2-3 years are especially interesting, as their mean purchase price now accounts for the biggest percentage of the Realized Cap. These buyers' average buy-in is 48.9K.
These optimistic results strengthen the case for a brighter future. The market keeps a strong conviction in Bitcoin's ability to develop, as it potentially approaches its biggest peak ever. For the time being, keep an eye on level 68K.
