With Bitcoin above $ 10 thousand, the trader that hit the 80% drop last year, makes a new prediction
Peter Brandt, an experienced 72-year-old analyst analyst, who in January 2018, predicted a fall in the price of Bitcoin to $ 4,000 or less when the crypto had just touched the threshold of $ 20,000, has shared a new prediction on Twitter .
In his recent tweet, Friday, the famous old-school merchant pleased the Bitcoiners, saying that now, after breaking the $ 10,000 level, Bitcoin is heading towards a much larger goal: $ 100,000.
Bitcoin aims for a goal of $ 100,000. BTC is experiencing its fourth parabolic phase that dates back to 2010. No other market in my 45 years of operations has become parabolic in a record table in this way. Bitcoin is a market like no other.
Next to his tweet, he shared an image that shows the parabolic phases that Bitcoin has experienced since 2010.
Likewise, in another image it shows a table that contains the details of Bitcoin’s low and high price during those phases. In addition, Brandt also compares it to the value of other assets, such as gold, Amazon and Netflix.
According to the historical information on Bitcoin prices, it can be seen that it has experienced four parabolic increases so far, the largest was recorded in 2017. Before that, Bitcoin increased exponentially in 2014 and 2011. In the last decade, Bitcoin He has seen tremendous speculation, developments and even criticism of all kinds.
As for this year, the cryptocurrency has been constantly recovering, and has recently overcome the $ 10,000 psychological resistance for the first time in more than a year. At the time of writing, Bitcoin is trading at a price that orbits around $ 11,000, showing an increase of almost 14 percent in the last 24 hours.
With this new prediction Peter Brandt, essentially considers that the next parabolic movement would lead to a 10x growth from here. However, this should not be a reason to create FOMO, because the goal timeline is still uncertain. Likewise, despite the positive development and the belief that surrounds Bitcoin, there is still regulatory uncertainty and other scalability issues that have not yet been fully resolved.
In my opinion, and citing the advice of Peter Brandt when he guessed the correctness that Bitcoin took him below the $ 4000:
“I’ve seen that such things happened so many times in the past and always end the same, prices always fall from 80% to 90%.”
So if another parabolic movement occurs, according to his advice we should see a correction of that magnitude at some point, but of course this is not a law.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.