Trader Peter Brandt says Bitcoin’s bull run is following similar past post-halving cycles, and if it holds it could reach $130,000 by late next year.
Bitcoin (BTC) could reach a cycle peak of $130,000 to $150,000 between late August to early September if it follows the trajectory of previous post-halving bull markets, according to crypto trader Peter Brandt.
The recently-passed April 20 Bitcoin halving is a coded-in event about every four years that slashes mining rewards by 50%, and halving dates have “represented almost perfect symmetry within past bull market cycles,” Brandt wrote in a June 2 report.
He claimed historically, the Bitcoin halving date has sat almost in the middle of when a bull market starts and when it reaches its peak.
