Peter Brandt: Bitcoin will reach $ 200,000

Analyst Peter Brandt expects the current bitcoin bull market to peak at $ 200,000, which is a significant revision of the crypto expert’s views compared to his initial estimate of BTC’s growth to $ 120,000.

«As the price has risen above the upper boundary of the 15-month channel, the target for the current bull market cycle, which is due to end in August-September 2025, is raised from $ 120,000 to $ 200,000,» Brandt said on the X platform.

The crypto expert believes that the bullish outlook will remain relevant as long as prices exceed last week’s low, when bitcoin was fixed at $ 50,500.

Brandt’s bullish post prompted some market participants to toy with the idea of updating their profile picture with «laser eyes,» a viral meme on X that bitcoin holders used during the 2021 bull market to suggest endless market growth.

According to Brandt, a return of the «laser eyes» would be the opposite indicator, signaling retail investor mania, which is often seen at market tops.

As a reminder, on the night of February 27, bitcoin broke through the $ 57,000 mark. At the moment, according to the CoinMarketCap analytical tracker, the market leader has dropped to $ 56,118. Nevertheless, BTC is still showing an increase of more than 9% per day.