Price Prediction for Bitcoin From Peter Brandt
Bitcoin's price has fallen over 2.75% this week, dropping from above of $88,000. Despite hopes for upward movement, the cryptocurrency has shown a decline, with further pain potentially on the horizon for holders.
Renowned trader Peter Brandt, with over 50 years of experience, has warned that Bitcoin could see a significant drop in the coming weeks. Brandt highlighted a potential fall to the low $70,000s, drawing parallels to a bear flag pattern on Bitcoin’s chart.
This pattern suggests that Bitcoin could lose approximately 15% of its current value, with a further dip being a realistic expectation.
Despite Brandt’s prediction, there remains uncertainty in the market, as some analysts believe Bitcoin could break past its current price range and potentially hit $91,000.
The outlook for Bitcoin remains fluid, and whether this bearish scenario unfolds or not will depend on future market movements.
Editorial Team
Reporter at Coindoo
