Peter Brandt shows Bitcoin moving on previously repeated patterns which suggest that the ongoing price correction may not be over yet.
Peter Brandt shows Bitcoin moving on previously repeated patterns which suggest that the ongoing price correction may not be over yet. Peter Brandt, veteran crypto trader and Bitcoin advocate, has spilled a hard truth on Bitcoin’s price pattern in a recent X post on Monday, December 1st.
a rare analysis suggesting that the leading cryptocurrency will see a massive price rally in the future, but it may plunge harder first. In his post, Peter Brandt shared a long-term Bitcoin chart that shows repeated patterns in all Bitcoin’s bull cycles since its launch. Morning Crypto Report: XRP Rockets 324% in Weekly ETF Inflows, Strategy CEO Reveals Why They May Sell Bitcoin, Shiba Inu in December: What to ExpectXRP Sees 1,447% Liquidation Imbalance, Shiba Inu Joins Japan's Green List, Saylor’s Strategy Having Second-Worst Month Since Buying Bitcoin — Top Weekly Crypto News Crypto Market Prediction: Shiba Inu Ends It Here, Bitcoin Price Reaches Key $90,954 Moment, Will XRP Fall Under Mini-Death Cross?He noted that these bull markets have often been preceded by a 75% or greater price correction. While he explained that there have been five major bull cycles since the asset launched in 2010, the chart shows each of the cycles moving on a steep, curved parabolic rise, followed by a sharp violation of that curve which then leads to a deep price correction.While he emphasized that no exceptions have been made in all previous cycles, the veteran trader believes that this current cycle would not be an exception either. With the current market uncertainty practically aligning with Brandt’s analysis, the chart shows that Bitcoin is currently hovering near the lower boundary of its long-term parabolic pattern.Thus, Brandt issued a serious warning that the crypto market should prepare for a deeper correction, which is what history has delivered every time if the curve breaks like in other cycles. However, long-term investors may not need to panic, as Brandt further assured that Bitcoin’s long-term potential remains intact and a major bull run is still waiting ahead.However, the massive rally will not happen in the near term, and Bitcoin might need to fall as low as $50,000 first to achieve this target.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin 2022 bear market correlation hits 98% as ETFs add $220MBitcoin price seasonality now shows almost 100% correlation to the 2022 bear market.
Read more »
Fed rate-cut bets surge: Can Bitcoin finally break $91K to go higher?Bitcoin’s outlook reflects cautious derivatives positioning and weak spot ETF flows
Read more »
Apple's Cyber Monday sale includes the MacBook Air M4 for $250 offFind the latest technology news and expert tech product reviews. Learn about the latest gadgets and consumer tech products for entertainment, gaming, lifestyle and more.
Read more »
Bitcoin to $40,000? Brutal New Price Prediction by Legendary Trader Peter Brandt Says YesBitcoin at $40,000 is not a shock call anymore because Peter Brandt says the chart failed where it had to show strength, and the recent drop to the mid-$80,000s only makes that target look more realistic.
Read more »
'Bitcoin's Market Price Will Be Zero': Peter SchiffEconomist and vocal Bitcoin critic Peter Schiff says Bitcoin price might head to zero if this market element disappears.
Read more »
$250K After $50K: Brandt Makes Stunning BTC PredictionPeter Brandt is using historical patterns to estimate the cryptocurrency’s next peak. .
Read more »