Peter Brandt is a well known and pretty much popular name in the industry who successfully predicted the BTC price crash of 2017 and now came with a recent one
The massive sell off in the crypto market following the fear amongst investors after the Fed Interest rate hikes that came out to be more than expected. This resulted in the whole crypto market along with the prices of major cryptocurrencies seeing decline since then. Bitcoin, Etheruem like cryptocurrencies are trading quite below their all time highs and now Peter Brandt came with the notion that they will get quite long to regain the same position.
Veteran Trader said that he dont think the biggest cryptocurrency by market capitalization, bitcoin (BTC) is going to create a new all time high until 2024. Additionally, Brandt noted that the action of bitcoin would be its huge price upswing’s part. In heis Tweet, Peter Brandt said that bitcoin is not going to make any new all time high till the year 2024.
Amidst these uncertain times when no one knows about the next swing of the crypto market or where it could lead now, statements from analysts like Peter Brandt could give an indication that when this crypto winter could come to an end. However, if it comes to previous crypto winters, then it’s worth noting that crypto winters previously have lasted for at least four years on an average.
What Peter Brandt has stated recently is followed after a tweet that he posted earlier saying that bitcoin was almost near to complete a pattern showing bearish flag, that was indicating more potential downside.
It’s quite evident from several past instances when Brandt had successfully predicted some price drops of major cryptocurrencies. It is worth noting that vetera trader was one of those analysts who predicted the significant drop in bitcoin price in the year 2017. At many instances, he is also seen comparing the recent bitcoin price movements to its movements in 2017.
As reported a week ago, Peter Brandt said that price correction of bitcoin could even show 80% correction and he even suggested that bitcoin price could even drop as low as $12,000. However, after that in the same week, he seems to take a positive approach when he said that bitcoin could find its support at the price point of around $20,000.
Source: https://www.thecoinrepublic.com/2022/06/18/no-more-highs-in-bitcoin-till-2024-why-does-peter-brandt-think-so/