Prominent commodity trader Peter Brandt predicts that the price of Bitcoin will reach $150,000 by next August. He believes that Bitcoin is currently in the "sweet spot" of the bull market cycle. Brandt measures halving cycles differently than other traders and notes the symmetry between the number of weeks from the bottom of the bear market to a halving event and the number of weeks from the block reward to the peak of a bull cycle. Based on this theory, Brandt predicts that the current cycle will peak in 2025. Bitcoin recently reached a new all-time high of $76,243 and is currently trading at $74,889. Spot Bitcoin ETFs also experienced strong inflows and record-breaking trading volumes.



Other News from Today