Expert: the stock market is still in a downtrend
Source:
Peter Brandt has become quite a well known figure in cryptosphere over the last couple of years. Prior to his fascination with the Bitcoin trader worked successfully with many traditional markets. At the end of Jan Brandt did the unthinkable at the time the forecast is for a drop to $ 3933. Initially, the prediction of the expert was considered utter nonsense, but in the end he was absolutely right.
In his tweet Brandt explained that after the parabolic growth of the market drop by 80 percent or more is inevitable. At the moment the market price of the home cryptocurrency almost coincides with the forecast of the trader. However, according to him, the end is not yet.
theWhat next?
Peter Brandt is a very powerful argument in their favor — nearly 40 years experience trading in the various markets. And yet some cryptoanalysis still doubt the level of his competence. Someone under the nickname Bitlord noticed that the expert had published the forecast of growth of Bitcoin up to $ 50,000, but the message was quickly removed.
Everyone forgot peter brandt made a $50k bitcoin chart and just deleted it to run with the $4k narrative
That's how he got the name “peter the deleter”
— ✨ Sir BitLord 01✨ (@Crypto_Bitlord)
Bullrun will not begin with a rapid growth today. About it, Brandt said in an interview with Yahoo Finance. Bitcoin «not going anywhere» and the maximum can only reach 4600 dollars in the coming months.
However, even a rapid breakthrough above 4000 is not a positive sign. It can be classified as «dead cat bounce». This is a popular term that characterizes short-term oversold retracement of the asset.
Anyone want to know why cryptos are rallying hard? It is called capitulation — at least for a time.
— Peter Brandt (@PeterLBrandt)
If the bitcoin will fall below $ 3,000, which is now the main support, the next stop will be only on lines of $ 1,200. However, Brandt says that in the future, «the situation will improve». According to him, the last time he «long-term holder of the crypts».
Today, Bitcoin is trading at $ 4100. Capitalization increased to 71,54 billion dollars, the daily volume of trading exceeded $ 8 billion.
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