• Tue. Oct 3rd, 2023

Expert Chartist and Economist Peter Brandt Predicts that Bitcoin would Reach a Six-Figure Evaluation

Hassan Mehmood

ByHassan Mehmood

Jun 12, 2021

Recently, Peter Brandt, who is known in the investment world as an expert trader, took to Twitter to hold a small crypto contest. He shared a Bitcoin price positioning chart and asked his followers to read it accurately. The crypto community took notice of the excerpt and responded heavily to the chart dynamics. In general, the opinion about the bear or bull market for Bitcoin remains divided.

However, Brandt himself has some good news for the Bitcoiners. He also told the long position holders to keep working on their Bitcoin reserves. The good news for Bitcoin traders is that Brandt predicts that Bitcoin would eventually hit the highly speculated and anticipated six-figure evaluation. Responding to a question on Twitter, he claimed that he still believes in the possibility of Bitcoin being stated at $100K.

Peter Brandt Warns Marketers about the Worst-Case Scenario for Bitcoin

In addition to being bullish on Bitcoin, Brandt is not certain that Bitcoin would hold onto the $30K mark for much longer. He also broadcasted a short-term bearish signal for Bitcoin and claimed that in the short run, the worst-case scenario could be a setback to $20K. In such a setting, the flagship cryptocurrency would depreciate as much as 69% from its ATH of $64,500 in April.

The chartists also noticed that Bitcoin price corrections during the 2017 bull run were never as grave as the recent ones. He argued in one tweet that every correction exceeding 50% had been followed by a 70% correction in the last ten years of trading. He also pointed out that every massive doubling up allows the beacon cryptocurrency to hit a new ATH in the duration of 7 months. 

Jack Dorsey, The CEO of Twitter, is Starting a New Green Energy Based Initiative for Bitcoin

During the Bitcoin 2021 Conference, Twitter CEO Jack Dorsey claimed that he would leave his current occupations for Bitcoin. Dorsey wanted to emphasize that his belief in the development and progress of Bitcoin potential are rock solid. Recently, Square has announced that it is pouring $5 million investment into Blockstream.

Blockstream is a Canadian enterprise that develops technologies for Bitcoin. This new venture aims to introduce green energy mining capabilities for the flagship cryptocurrency. Chris Cook, CIO of Blockstream, claims that the open-sourced and sustainable energy project would present an example for other businesses to make a successful shift from destructive to constructive production methods.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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