TL;DR
- Veteran trader Peter Brandt envisioned a potential 50% BTC correction, with altcoins and meme coins possibly collapsing by 90% and 100%.
- On the other hand, many analysts foresee BTC reaching $120K – $200K in the following months, with some suggesting the bull market could possibly last until 2026.
50% BTC Correction Incoming?
In recent months, Bitcoin (BTC) has experienced a significant surge, breaching the symbolic barrier of $100,000 at the start of December and reaching an unprecedented high of over $108,000 shortly afterwards. However, towards the end of the year, there was a pullback that temporarily reduced its worth to below $92K. Nevertheless, optimistic investors, or ‘bulls’, have re-entered the market, pushing Bitcoin’s current value just shy of the $100,000 mark.
Although the current state may seem optimistic for the leading cryptocurrency, experienced traders like Peter Brandt predict a significant drop could occur at some point in the future.
Recently, he expressed his view that numerous traders could become over-leveraged, fail to anticipate the peak, and face liquidation due to a possible 50% drop in Bitcoin’s price. Brandt is particularly bearish about altcoins and meme coins, predicting a plunge of 90% and 100%, respectively.
It appears extremely improbable for Bitcoin’s price to drop down to $50,000 at this point in time, given the ongoing bull market and the upcoming inauguration of Donald Trump. Remember that the incoming president of the United States has made several positive statements about cryptocurrencies, which could lead to a further surge within the sector, assuming he fulfills his pledges.
Nevertheless, it’s crucial for cryptocurrency investors to stay vigilant as the market is prone to sudden, unforeseen shifts and volatility.
It’s worth pointing out that in one of his earlier comments, Brandt expressed how Bitcoin (BTC) has shown remarkable growth over the past fifteen years. He also mentioned that he personally owns some BTC.
The Optimists’ Team
In contrast to Brandt’s pessimistic outlook, I, as an analyst, am among many who believe the Bitcoin bulls will persist in the immediate future. A popular user on the X platform named Lucky, with a following of over two million, recently posted an intriguing chart indicating that the bull market could extend until 2026. Furthermore, this forecast suggests a potential BTC rally reaching as high as $200,000.
In addition to other optimists, Crypto Rover and Doctor Profit hold somewhat more modest expectations. Recently, Crypto Rover predicted that Bitcoin might reach a new all-time high of $120,000 within the first quarter of the year, while Doctor Profit forecasted a surge to $125,000.
If you’re interested in discovering more about future Bitcoin price predictions and deciding if it’s a suitable moment to invest, feel free to watch our exclusive video here:
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2025-01-07 07:40