The forecast for bitcoin to reach a peak in August-September remains valid.
On May 1, Brandt published a chart showing the dynamics of the BTC price change, where the parabolic slope is depicted with red lines. Peter suggested that between August and September, the price of the cryptocurrency would touch the upper line of the figure, which will range from $125,000 to $150,000.
The chart of bitcoin price fluctuations compiled by Brandt
On August 14, the price of BTC updated its historical maximum, rising to $124,624. Therefore, it can be assumed that soon there will be another upward impulse that will push the price of the coin to $125,000 or higher. After that, according to Peter, the price of bitcoin will fall by 50%, meaning the cryptocurrency could drop to $62,500 during the bear trend.
Yesterday, Brandt asked the host of the finance podcast The Wolf Of All Streets, Scott Melker, what he thinks about the forecast made in May. Scott replied: 'I think you did great.'
Judging by everything, Melker shares Peter's point of view and believes that the bullish rally that started in January 2023 will end in the next one and a half months in the bitcoin market. In this case, a downward trend will emerge that will be observed for at least about six months.