Where is Bitcoin headed? Legendary investors weigh in, and traders should take note

Bitcoin could be on track to reach somewhere between $125,000 and $150,000 by the end of August, as per the analysis by legendary trader Peter Brandt, who is known for accurately projecting past moves in the S&P 500, according to a report.

Big Gains Needed to Meet Target

However, to meet Brandt’s projection, Bitcoin would need to gain over $13,000 each month until August, as per The Street report. While the veteran trader also signalled that his prediction leans toward the speculative side, as he mentioned, "On track maybe for top of $125,000 to $150,000 by end of August????", emphasising, "Hey trolls, note the ?????", in his technical analysis post on social media platform X, according to the report.

Peter Brandt's Call Comes After Bitcoin's ATH

Brandt's technical analysis of the Bitcoin price chart on X was posted on May 21, which was the day Bitcoin reached its new all-time high (ATH) of $109,487.23, reported The Street.


He wrote on his X post, "I think it is wonderful Bitcoin is making ATHs. I am long. I actually think ATHs is not technically significant," adding, "Bull markets make ATHs all the time. It is the definition of a bull market," as quoted in the report.

The record high price of BTC is $111,970.17, which it reached on May 22, while Bitcoin reached its previous all time high of $109,241 on January 20, before US president Donald Trump's presidential inauguration, as per The Street.

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Fred Krueger Is Even More Bullish

According to The Street, Wall Street veteran and mathematician Fred Krueger is even more bullish on Bitcoin, as he projects BTC to reach $600,000 in October.

FAQs

What does Brandt think about ATHs in general?
He says they’re normal in bull markets and not technically significant, though still a sign of strength.

What’s Bitcoin’s current all-time high?
$111,970.17, reached on May 22, as per The Street.