Share this article
Veteran Analyst Peter Brandt Expects Bitcoin to Reach $200K
Based on an analysis of price chart patterns, bitcoin is about halfway through its current bull market, which began around the March 2020 low.
Updated Mar 6, 2023, 2:52 p.m. Published Mar 22, 2021, 5:46 p.m.
Bitcoin (BTC) is about halfway through its current bull market, which originated around the March 2020 price low, according to Peter Brandt, a veteran analyst and investor who's been following commodity markets for more than four decades and serves as CEO of Factor LLC, which he founded in 1980. He's been given credit for correctly predicting bitcoin's steep price correction in 2018.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In an interview on CoinDesk TV, Brandt, a well-known author on interpreting chart patterns, explained the long-term BTC bull market remains intact. His technical analysis suggests BTC could continue to rally, albeit with corrections along the way.
- Brandt expects bitcoin to reach $180,000 to $200,000 by Q3 or Q4 based on its long-term trend channel.
- "I keep my eye on the broader picture. Bitcoin over the past 10 to 11 years, you get these big rallies that accelerate two to three years, and then you get a big correction," said Brandt.
- Bitcoin is currently moving along its fourth parabolic advance on the weekly log-scale chart.
- The parabolic advance provides an anchor to BTC price from the March 2020 low.
- However, Brandt cautioned against the recent wave of exuberance on social media. "We're in for trouble," Brandt said, when people start "having laser-eyes on their Twitter feed."
- "Bitcoin is taking the role of store of wealth and medium of exchange. It's a binary bet. It will be be the best of what people really want it to become, or it will become nothing."
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Underperforms Market as Sudden Bitcoin Surge Forces $387M of Liquidations
XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion
What to know:
- XRP posts gains but underperforms compared to the broader digital asset surge, with below-average trading volume raising questions about the move's strength.
- Bitcoin's rise above $94,000 triggered a broad market rebound, leading to significant liquidations and reshuffling of positions.
- XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion to confirm momentum alignment.
Top Stories
