Bitcoin price could rise 10x in two years, says Peter Brandt
Prominent trader Peter Brandt believes Bitcoin price could be 10x from where it stands now
Bitcoin Price Could Rise Ten Times in Two Years, According to a recent tweet posted by prominent trader Peter Brandt.
Alternatively, the world’s largest cryptocurrency could continue its streak of sideways trading for an extended period of time, the chartist says.
Image by @PeterLbrandt
Brandt’s most recent prediction was made in response to a tweet posted by longtime Bitcoin proponent Tuur Demeester, who claims that the best cryptocurrency tends to explode “like nothing on this planet” after prolonged periods of consolidation.
As reported by U.Today, Brandt recently predicted that a new “rocket phase” of Bitcoin could be ignited in 2024 based on how past market cycles have played out.
Bitcoin has been under pressure for the past few weeks, diving below the $40,000 level for the first time since mid-March on Monday.
Meanwhile, the correlation between the tech-focused Nasdaq 100 and Bitcoin recently hit another all-time high. Baffled by an increasingly aggressive Fed, traders are rushing to exit risky assets. The US dollar index (DYX) recently peaked above 100 before making some gains.
The flagship cryptocurrency is trading in greed along with the rest of the market.
Bitcoin’s dominance dropped to 41%, showing that altcoins outperform the top cryptocurrency.