- A cryptocurrency analyst, who guessed Bitcoin’s more than 80% drop in 2018, has now projected when BTC would touch the $150,000 mark.
- Peter Brandt, who has more than 700,000 followers on Twitter, claimed that Bitcoin is doing a reverse head and shoulders pattern.
- Through this analysis, he estimates that the first level that Bitcoin will touch is USD 30,000, then USD 70,000, to later reach USD 150,000 only in 2025. In addition, he informed me that he expects high volatility.
Peter Brandt, a cryptocurrency analyst who guessed Bitcoin’s crash in 2018 when it plummeted from $19,000 to $3,000, has now made a series of statements to understand when BTC might hit the $150,000 mark.
The charts that Brandt showed on Twitter to his more than 700,000 followers suggest that Bitcoin is doing an inverse head and shoulders pattern, which could take BTC to a first level of $30,000 during the second quarter of this year.
This type of pattern indicates the reversal of downtrends. It can be identified as the asset price hitting a low, rising, falling below the previous low again, then rising again, and finally falling a third time but not as low as the second low. After the third low, the price moves toward the resistance level at the top of the previous lows.
Any idiot can make wild guesses about markets, so here is my dunce-hat prediction. In reality, nobody has a clue what any given market will do. $BTC pic.twitter.com/bpP2ThjnZK
— Peter Brandt (@PeterLBrandt) January 15, 2023
As can be seen in the graph, Bitcoin would reach USD 70,000, to then correct to USD 33,000 and then yes, reach USD 150,000.
Still, Brandt clarified that ” anyone can make wild guesses about markets, and no one has any idea what a given market will do .”
There are also some fundamentals to highlight and that is that the whales (those who own between 1,000 and 10,000 BTC) bought more than 37,000 bitcoins in the last ten days.
In addition, users who have between 100 and 999 BTC have made 67,000 bitcoins in the last two months, while those who have between 10 and 99 BTC have bought more than 105,600 bitcoins in the last ten weeks.
