“Bear or Bull!” – Here Are the Prices He Expects!

Leading cryptocurrency Bitcoin (BTC) remains strong above $100,000 as it continues its volatile movements.

While some investors say that Bitcoin has not yet reached its peak and that there is still room for growth, some analysts believe that the peak has already arrived.

One of these analysts was legendary 50-year-old analyst Peter Brandt, who said that BTC had peaked and could fall to $60,000.

Peter Brandt said Bitcoin’s price chart is starting to resemble the soybean market of about 50 years ago, when prices fell 50 percent after peaking as global supply began to exceed demand.

At this point, Brandt argued that Bitcoin had reached a market peak, drawing parallels with the soybean market of the 1970s.

Brandt said that the BTC chart has formed a rare broadening top pattern that is usually seen at market tops.

The renowned analyst noted that a similar pattern was seen in the soybean market in the 1970s, before a decline of approximately 50%.

“Bitcoin is forming a rare broadening top on charts. This pattern is famous for its peaks.

Historically, such a peak occurred in soybeans in the 1970s, after which its value dropped by 50 percent.”

Either $250,000 or $60,000 in Bitcoin!

Brandt stated that when he encountered reactions to his comment, he looked at the possibilities and evaluated every possibility.

At this point, Brandt stated that Bitcoin could experience a large-scale bull run in this cycle and reach $250,000 or see a correction to $60,000.

“I’m a bettor. And I deal with probabilities, I don’t consider anything to be certain.

I have binary opposite TA and macro models in my mind.

Bitcoin could rise to $250,000 or fall to $60,000.

I’m looking at all the possibilities and looking for bets both ways.”

*This is not investment advice.