Legendary name also knows the last crash: Bitcoin goes to these lows!
Legendary trader Peter Brandt, known for his accurate predictions for the bitcoin and altcoin markets, submitted his new predictions. Brandt has announced the next for Bitcoin, the largest cryptocurrency. But Brandt’s comments may make many unhappy. Here are the details…
Negative Bitcoin Analysis by Peter Brandt
Who stands out with their forecasts for cryptocurrency assets, but Peter Brandt, known for having serious experience in the traditional market before, submitted his new predictions for BTC. Brandt believes BTC could lose almost half of its current price. Brandt, in his post earlier today, as long as BTC doesn’t close above the May 31 high when it surged to $32,206; He predicted that it could drop as low as $12,700 in the near term. The trader used the following statements in a tweet he shared:
If bitcoin (BTC) fails to close above the May 31 high, the chart could start showing the famous “Drano” -Chart to resemble pattern.
https://twitter.com/PeterLBrandt/status/153612935122535809
Brandt is known for making accurate cryptocurrency predictions. The veteran futures trader recently predicted that Ethereum (ETH), the second largest cryptocurrency by market cap, could fall below $1,265. Interestingly, it took no more than a week for the second-best crypto asset to start bouncing around Brandt’s predicted levels. ETH price suffers on news of Ethereum “Difficulty Bomb” delays.
BTC price collapses
Bitcoin falls below $25,000 for the first time since December 2020. As expected, altcoins continue to suffer from double-digit losses as well. With that, the liquidations again reached half a billion dollars. While BTC struggled to surpass $32,000 last week, it is currently trading around $7,000 below that level. BTC failed at $32,000. He returned to familiar ground for $30,000, where he stayed until Friday. Recent US inflation numbers pushed the coin down $1,000, but the worst is yet to come.
BTC lost another thousand dollars over the weekend. But the last 24 hours have brought even more pain. Earlier today, bitcoin fell below $25,000 for the first time in 18 months. Ethereum was also one of the biggest losers. ETH was above $2,000 a week ago but has now fallen to $1,300. This puts the second-largest crypto currently below its 2018 record. Even more losses are evident as ADA, SOL, DOGE, DOT, TRX, and AVAX fall about 10 percent or more in a single day. All of this increased volatility has once again caused pain for over-leveraged traders. The number of liquidated investors reached 180 thousand.