Analysts who predicted a Bitcoin collapse in 2018 see a 25% chance of the bull market ending.

Veteran analyst Peter Brandt, who predicted Bitcoin’s 2018 collapse, said one indicator shows the market leader’s bull market is over.

“The fact is that the Bitcoin bull market cycle has lost tremendous momentum over the years,” Brandt said in a report dated April 26. blog post.

Citing a statistical concept called Exponential Decay, the analyst said that each bull cycle was 80% less than the previous cycle in terms of growth.

Bitcoin may already have reached its peak this cycle.

In the current cycle, Brandt believes BTC will soar to around 80% of the 22x growth the major cryptocurrency posted during the previous cycle between 2018 and 2021.

The current cycle low is $15,473, and Brandt predicts a high of $72,723. This is just below BTC’s all-time high (ATH) of $73,750.07 achieved on March 14, which led Brandt to speculate that the market leader’s bull run may be over.

Although Brandt personally puts the probability of such an outcome at 25%. It urged investors to pay attention to the near-term “real” threat to the bull market from an index collapse.

Cryptocurrencies could experience a sharp correction if market leaders reach their peaks in the latest cycle, he said. Brandt said BTC “could fall back to the mid-$30s or 2021 lows.”

This potential retracement would be “the most optimistic thing that could happen from a long-term perspective,” he added.

Brandt predicted that BTC would reach $200,000.

The brand made an optimistic prediction about the king of cryptocurrencies back in February.

bitcoin update
The momentum above the upper limit of the 15-month channel has led to the target being revised upward from $120,000 to $200,000 for the current bull market cycle, scheduled to end in August/September 2025. $BTC
A close below last week’s low invalidates this interpretation. pic.twitter.com/19ZXpAQW0v

— Peter Brandt (@PeterLBrandt) February 27, 2024

Following the 15-month channel’s “cap-exceeding momentum,” he estimates BTC’s bull market will last until around August 2025. He predicted: bitcoin We can reach $200,000, up from our previous goal of $120,000.

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