Analyst Predicts Bitcoin Will Reach New All-Time Highs Soon: 'Would Be Very Much In Line With Past Cycles'

An analyst has predicted that Bitcoin (CRYPTO: BTC) is on track to reach new all-time highs (ATHs) soon.

What Happened: Peter Brandt is debunking pseudonymous crypto analyst Cheds prediction that Bitcoin is unlikely to hit $50,000 within 90 days. 

He claims that his prediction is consistent with historical performance and past market cycles.

All predictions are just guesses. My guess is that Bitcoin is 12 months away from new ATHs https://t.co/n5Gk1hgPGj

— Peter Brandt (@PeterLBrandt) March 20, 2023

“In case you are wondering: BTC highly unlikely to come even close to $50,000 in the next 90 days, let alone $1 million,” Ched tweeted.

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

Brandt has a different take on Bitcoin's next halving event. He insists that it's "waaaaaaaaay overrated and a non-event." He suggests that some are "smoking too much wacky" in their excitement for the upcoming halving.

“Dangerous to have opinions that are without fact. New ATHs in April-June 2024 would be very much in line with past cycles. The amount of disinformation in crypto is amazing to me,” Brandt tweeted.

Dangerous to have opinions that are without fact. New ATHs in Apr-Jun 2024 would be very much in line with past cycles. The amt of disinformation in crypto is amazing to me pic.twitter.com/SrSXzAbGrD

— Peter Brandt (@PeterLBrandt) March 20, 2023

Price Action: At the time of writing, BTC was trading at $28,133, up 2.02% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin Holds $28K Fort, Ethereum, Dogecoin Rise: Analyst Sees 'Beautiful' Setup For Apex Crypto As Focus Turns To Fed