Seasoned dealer Peter Brandt is leaning bullish on Bitcoin (BTC) after the flagship crypto asset just lately broke into a brand new all-time excessive.
Brandt tells his 746,100 followers on the social media platform X that Bitcoin is “now within the candy spot of the bull market halving cycle.”
In keeping with Brandt, Bitcoin might respect by between 73% to 100% from the present degree to achieve the cycle prime in August or September of 2025.
Primarily based on the veteran dealer’s chart, it seems he’s suggesting that the time it can take for Bitcoin to achieve the cycle prime after the halving can be just like the time taken from the beginning of the bull market cycle to the halving, if historical past repeats itself.
In keeping with Brandt, a 518-day interval separates Bitcoin’s begin of the bull market cycle in November of 2022 to the halving in April of this 12 months. The veteran dealer says it might probably take one other 518 days for Bitcoin to achieve the cycle prime of the present bull market from the April halving.
Bitcoin is buying and selling at $75,004 at time of writing.
The extensively adopted dealer additionally affords his perception on Ethereum (ETH) and Solana (SOL).
“Each are poised for upside breakouts to affix Bitcoin. However discover, SOL breaking out into new highs. ETH chewing into overhead resistance (provide). I at all times favor new highs and like SOL.”
Primarily based on Brandt’s Ethereum and Solana charts on the weekly timeframe, it seems that Solana is round 10% under the 28-month excessive reached in March whereas Ethereum is 45% under its 28-month excessive reached throughout the identical interval.
Ethereum is buying and selling at $2,805 at time of writing whereas Solana is altering palms at $187.
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