Veteran trader Peter Brandt has suggested a potential decline in Bitcoin's value below $40,000. Brandt is known for applying Bayesian Probability Theory to market analysis, revising the likelihood of events as new data emerges.
Brandt currently assigns a 65% chance of Bitcoin falling under $40,000, while projecting a 20% chance of reaching $80,000 and a 15% chance of hitting $130,000 by September 2025.
Analyst Gautam Chhugani highlighted the impact of the upcoming US Presidential election on Bitcoin's prices. He believes a Trump win could push Bitcoin to $80,000-$90,000, while a Harris win might see it test the $30,000-$40,000 range.
This year, Bitcoin has fluctuated between $55,000 and $70,000, currently trading at around $56,500. The cryptocurrency's fate is closely tied to the US Presidential election results and overall political climate.
Chhugani emphasized the broader implications of a favorable regulatory environment, suggesting that a positive outcome could remove policy risks, enabling financial institutions to participate more freely in digital assets.
