Brandt Revives $100K Bitcoin Forecast as BTC Tests $82K Resistance
Veteran trader Peter Brandt has revived his well-known Bitcoin logarithmic chart from June 2019, suggesting that BTC's long-term parabolic trend remains intact. According to the model, which originally projected a price of $100,000 for Bitcoin, the cryptocurrency is currently trading within its long-term ascending channel.
The chart, which was first published when Bitcoin traded near $10,000, shows historical cycles produced extraordinary gains, including advances of roughly 20x, 489x, 42x and 93x. The current price structure appears to remain within this historical range, with BTC trading relatively close to the lower portion of that zone.
The presence of institutional investors and the growth of spot Bitcoin exchange-traded funds (ETFs) have changed the market dynamics since Brandt's original analysis in 2019. However, the logarithmic model suggests that the broader bullish trajectory could remain intact as long as the lower boundary of the historical trend channel holds.