New warnings for crypto markets and Bitcoin (BTC) have come from the notorious trader who has accurately predicted the massive Bitcoin (BTC) crash and rally many times in the past. Details are on Kriptokoin.com.
New warnings for Bitcoin (BTC)
A veteran trader who exploded in the cryptocurrency markets after accurately predicting the 2018 crash of Bitcoin (BTC), updates his view of the best cryptocurrency. Popular cryptocurrency analyst Peter Brandt believes that BTC has formed a viable pattern after its sharp jump from the $38,000 to the $42,000 range. The renowned analyst and trader tells his 626,000 Twitter followers that the best digital asset by market cap has posted an “interesting” technical setup. The famous investor’s analysis shows that Bitcoin (BTC) has made a higher low after bottoming out around $33,500 from now on, while breaking above a historic support and resistance level at $41,757.
Analyst Peter Brandt said, “Bitcoin has a very interesting chart right now. He is getting ready to pull the trigger.” The seasoned analyst says that BTC is the king of digital assets and traders who decide to convert their BTC to other crypto assets may be beating their own knees in the future. However, Brandt does not neglect to warn Bitcoin (BTC) fans about “Hodling” as occasional dips can force traders to wait long for their positions to be profitable.
Price volatility warning for BTC
Veteran analyst and investor Brandt, who has sent detailed warnings on the subject to his followers, says:
I am not a fan of holding Bitcoin. Bitcoin has a history of 80% decline, 4 times in 11 years. A hodler needs 400% each time to return to [all-time highs]. I hate having to earn the same money over and over. It’s hard enough the first time.
BTC has exhibited a high degree of price volatility this week as global markets continue to grapple with the economic consequences of the Russia-Ukraine conflict. On March 2, BTC was changing hands at a seven-day high of $44,151. On March 7, it slumped to a weekly low of $37,382 before climbing abruptly 13% at the time of writing to $42,376.
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