BTC unlikely to hit new ATH this year, says Peter Brandt

Veteran trader Peter Brandt has predicted that Bitcoin is unlikely to reach a new all-time high this year, with such a milestone more probable in the second quarter of next year. In an interview with Cointelegraph, Brandt suggested that the $60,000 low recorded in February may not be the bottom for the year. He added that BTC could retest or dip slightly below the $60,000 support level in September or October, which could confirm the bear market bottom and signal the start of a new bull market. Brandt described Bitcoin as a store of value, noting that its price could be influenced by technological advancements that enhance its real-world utility. He also stated that he holds a neutral to bearish outlook on all other cryptocurrencies.