The post Legendary Trader Brandt Names Crucial Trigger to Propel Bitcoin to $200,000 appeared on BitcoinEthereumNews.com.

Old-school commodities trader Peter L. Brandt, who has been in the trading business since the mid-1970s, has shared some important data with the crypto community. He stressed that it was just “a thought, not a trade.” He revealed a key condition that needs to be fulfilled so that the world’s flagship cryptocurrency, Bitcoin, can surge to the $200,000 price level and above it by the end of this decade. Key driver to take Bitcoin above $200,000 Brandt has shared a chart that shows the Bitcoin price trajectory since 2012 and the curve of the parabolic resistance line, which BTC faced at every price peak, and then it was followed by a massive correction. Each of those price pullbacks lasted roughly one or two years. Peter Brandt believes that unless Bitcoin can “escape velocity” through that upper parabolic resistance line, BTC is very “unlikely to be trading above $200,000 at the end of this decade,” he believes. From the world of crazy ideas comes this thought – a thought, not a tradeUnless Bitcoin has escape velocity through upper parabolic resistance line it’s very unlikely that BTC will be trading above $200k at the end of this decade. Only☑️can reply. No interest in non- ☑️replies pic.twitter.com/7a5N7Gliw8 — Peter Brandt (@PeterLBrandt) February 14, 2025 On Jan. 20 this year, Bitcoin hit an all-time high of $109,114 and is currently trading at $96,606. Basically, the renowned trader assumes that within the next several years (five or less) Bitcoin may soar by more than 2x and reach $200,000 if it manages to surpass the parabolic resistance line. Related Six paths to Bitcoin Omega candle from Samson Mow Earlier this week, prominent Bitcoin maximalist and JAN3 boss Samson Mow published a tweet, in which he suggested six key drivers that could push Bitcoin toward an Omega…

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Filed under: News - @ February 14, 2025 7:24 pm