Brandt Revives $100K BTC Target Amid Institutional-Fueled Parabolic Advance

Renowned financial analyst Peter Brandt has dusted off his logarithmic chart from June 2019, reiterating that Bitcoin's fourth parabolic phase remains intact. The chart shows a clear path to $100,000 for BTC.

Brandt's model, which predicted the cryptocurrency would reach $100,000 in 2019 when it was trading at around $10,000, has been validated by recent price action. Bitcoin's current price is compressed near the lower boundary of its historic ascending channel, repeating a phase of broad accumulation.

The analyst notes that institutional support is driving this parabolic scenario, unlike in 2019 when retail investor sentiment fueled speculation. This time around, major funds and systematic capital inflows through spot ETFs are backing BTC's price action.