Bitcoin is poised for a potentially "dramatic" surge if it avoids topping out soon, according to veteran trader Peter Brandt. This analysis comes amid a backdrop of Bitcoin reaching new all-time highs, fueled by substantial inflows into crypto ETFs and growing optimism from analysts.
Brandt, who has been closely following Bitcoin's price movements, offered his technical perspective on the cryptocurrency's recent surge. In May 2025, Brandt noted that Bitcoin's breakout to a new all-time high was not necessarily a decisive technical event on its own. Instead, he emphasized the presence of established bullish continuation patterns that support the ongoing uptrend. He identified key technical formations such as a symmetrical triangle, a double top retest, a head-and-shoulders retest, and a breakout from a well-defined bull flag pattern. These patterns suggested that Bitcoin had strong momentum and could potentially reach between $125,000 and $150,000 by late summer.
More recently, Brandt has updated his forecast, suggesting that Bitcoin could potentially reach $200,000 by the end of 2025. This revised outlook is supported by Bitcoin's surge above $55,000, breaking above a 15-month channel. Brandt believes Bitcoin will continue to trade above $50,500.
Several factors contribute to the bullish sentiment surrounding Bitcoin. The influx of $3.55 billion into crypto ETFs globally indicates strong institutional interest. Coinbase's CEO, Brian Armstrong, has also predicted that Bitcoin could reach $1,000,000 by 2030, citing growing regulatory clarity, institutional adoption of spot ETFs, and global capital rotation into cryptos.
Furthermore, new data suggests that the average buy-in price for investors who held Bitcoin during the latest cycle's bullish rally has exceeded previous levels, indicating a hopeful outlook. Those who have held for 2-3 years are especially interesting, as their mean purchase price now accounts for the biggest percentage of the Realized Cap. These buyers' average buy-in is $48,900.
However, some analysts remain cautious. Peter Schiff, a long-time gold supporter and Bitcoin critic, has downplayed Bitcoin's latest rally. While he acknowledged Bitcoin's recent climb to $126,000, he pointed out that the digital asset remains roughly 15% below its all-time high when measured against gold's value.
Despite the differing opinions, the overall sentiment in the market is bullish. Bitcoin's price has reached new highs, and analysts are predicting further gains. The increasing institutional adoption and growing regulatory clarity are also contributing to the positive outlook.
Adding to the positive outlook, gold's recent surge past $4,000 per ounce has pushed its estimated total value to around $27 trillion. Based on current projections, some analysts expect Bitcoin's overall value could reach roughly half the size of gold's by 2028, approximately $13.5 trillion.
While price predictions remain speculative, the current technical indicators and market sentiment suggest that Bitcoin is well-positioned for continued growth. However, investors should be aware of the risks involved and conduct their own research before making any investment decisions.
