Bitcoin surged past $68,000 today, marking the first time since July 29, amid speculation that Japan will soon announce a major economic stimulus package. Renowned crypto analyst Peter Brandt has predicted that Bitcoin may reach a new all-time high soon, adding to market optimism.
The rally comes as Japan is reportedly planning a stimulus package exceeding last year’s $87 billion to boost consumption, investment, and wage growth. This announcement has strengthened market confidence, alongside increasing institutional interest in Bitcoin from companies like Metaplanet and MicroStrategy. The inflow of over $926 million into the US Spot Bitcoin ETF this week has further bolstered sentiment.
Peter Brandt’s analysis suggests Bitcoin could hit $73,734, citing a 50% probability based on an “inverted expanding triangle” chart pattern. While Bitcoin briefly crossed $68,000, it has since dipped slightly but remains near $67,951.21. Recent forecasts also hint that Bitcoin could surpass $87,000 in the near future and potentially reach $95,600 by November 2024.
