Bitcoin Price Prediction: New ATH Not Coming Until Q3 2024, Says Analyst Peter Brandt

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Bitcoin (BTC) has risen to levels last seen in May 2022, surprising many and triggering a bull run. The BTC halving and likely launch of a spot BTC ETF are hot suspects of this rise. This pump stirred FOMO (fear of missing out) in the markets, driving buying volume. BTC’s dominance exceeded 52%, and its price was over $35,000.

Yet, some FOMO investors are panicking and selling. Nevertheless, there’s a silver lining as Peter Brandt’s optimistic Bitcoin price prediction follows a significant breakthrough of the crucial $31,000 resistance level. The crypto world is abuzz as the market’s mood turns decidedly bullish.

So, what is the buzz around this unprecedented surge? Experts have mixed opinions, but one analyst suggests the Bitcoin bottom may be in. 

Consolidation Before ATH, What About Bitcoin Bottom? 

Peter Brandt, a prominent crypto analyst, expressed his conviction on Twitter that the bottom for Bitcoin has been reached. However, he acknowledged the unpredictable nature of markets and that they always manage to surprise.

Despite this disclaimer, he firmly believes that the Bitcoin bottom is in and suggested that new all-time highs (ATHs) won’t be seen until the third quarter of 2024. Brandt also speculated that Bitcoin might undergo an extended period of consolidation or sideways movement before achieving new ATHs. He mentioned using a blueprint that spans two years to support his analysis. 

Brandt isn’t the only analyst with a bullish outlook. Kevin Svenson, a popular crypto analyst, pointed out that the best buying opportunities for Bitcoin often occur before its halving events. He emphasized that historical cycles repeat themselves, suggesting further price growth. 

At the same time, Crypto fund manager Dan Tapiero has shared his bullish sentiments, stating that Bitcoin’s $25,000 support could propel the cryptocurrency to the $35,000 to $45,000 range in the short term and potentially new all-time highs by 2024. These positive perspectives, alongside the ongoing discussions and debates, shape the dynamic landscape of Bitcoin’s future price predictions.