Peter Brandt: bitcoin can rise to $ 125,000

As the bitcoin cryptocurrency BTC $97,992.32 Bitcoin 4.29% Market capitalization $1.94 trillion VOL. 24 hours $6.55 billion has set a new all-time high, analysts predict further rapid growth of the digital token. Thus, trader Peter Brandt predicts that BTC will rise to $ 125 thousand.

It is reported that the main reason for the current growth of bitcoin is the discussion in Donald Trump’s team of the possibility of creating a separate position in the White House to regulate cryptocurrencies. This prompted investors to pay attention to the world’s largest cryptocurrency again.

Thus, popular analyst Ali Martinez suggests that Bitcoin is repeating a four-year growth pattern. According to his forecasts, the price of BTC may rise to $ 108,000, undergo a correction to $ 99,000, and then rapidly rise to $ 135,000.

Legendary trader Peter Brandt also noted that Bitcoin’s chart shows a flag formation, which indicates that it may reach the $ 125,000 mark after the recent breakout.Against this backdrop, the ETH/BTC pair fell to its lowest level in three years, postponing the start of a potential «altcoin season.» Analysts speculate that ETH/BTC may bottom out in December, as this month is often a turning point for Ethereum’s recovery.Crypto traders also note that the growth of altcoins is unlikely without the active participation of Ethereum. Thus, the altcoin season will start only after the ETH/BTC pair strengthens.

A significant contribution to the Bitcoin rally is made by the flow of funds into spot Bitcoin ETFs, among which BlackRock with its IBIT product stands out. This underscores the growing investor confidence in the cryptocurrency and its ability to reach new heights.

Against the backdrop of these developments, Bitcoin is demonstrating unparalleled resilience, leaving altcoins behind and confirming its status as the leader of the crypto market.