While the Bitcoin price continued to hover around $41,229 with an increase of 2.7 percent over the past day, a famous trader shared his thoughts on the largest cryptocurrency by market cap. Brandt gave the date when the BTC price could experience a tenfold increase. Here are the details…
Bitcoin prediction from Peter Brandt: 10x!
As we have reported as Cryptokoin.com, although the price of Bitcoin has decreased to $ 39,000 in the past days, it has been trading above $ 41,000 for a while. Peter Brandt, a famous trader, also draws attention to this sideways movement in BTC. Brandt argues that “alternatively, the world’s largest cryptocurrency could maintain its horizontal trading streak for an extended period of time.”
Brandt’s latest prediction, to BTC advocate Tuur Demeester came as an answer. Demeester said that after BTC’s long periods of consolidation, the top cryptocurrency “tends to experience a boom like nothing has experienced before.” Brandt also recently argued that BTC could enter the “rocket stage” in 2024, given previous market cycles. In other words, we can deduce that Brandt has great expectations for BTC 2 years later.
BTC price latest
Meanwhile, Bitcoin has come under pressure over the past weeks and fell below the $40,000 level for the first time since mid-March on Monday. Meanwhile, the relationship between the Nasdaq 100 and BTC registered a record level. After the US Federal Reserve’s tougher stance, traders are shifting away from risky assets to hedging assets, the so-called “safe haven”. After the Fed’s statements, the US dollar index also rose to very high levels.
Apart from that, the dominance ratio, which measures Bitcoin’s dominance in the overall cryptocurrency market, has dropped to 39 percent. This shows that the market value of other altcoins is rising. At the time of writing, BTC is changing hands at $ 41,236. The seven-day change of the cryptocurrency appears to be a 4.5 percent loss.
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