Expert who hit Bitcoin's fall in 2018 highlights that now the cryptocurrency has also started a bearish movement and that this can take BTC again to the $ 8,000 mark
The beginning of 2022 is not being anything positive for the price of Bitcoin (BTC) which has already dropped about 20% on the year, reaching the $ 40 thousand mark and causing concern for cryptocurrency investors who believed in a new parabolic high. that would take BTC above $100K.
However, while some analysts still believe that the current bear market is only temporary, trader Peter Brandt, who was right in 2018 in predicting a sharp pullback in the price of Bitcoin, which in fact took BTC from a high close to $20,000 to a low of the $3,000 mark.
Make no mistake, first US Bitcoin ETF was a flop, but BTC won't drop beyond this 20%, analyst says
Brandt points out that the current drop, unlike the others that took place in 2021, shows that BTC has come out of its parabolic advance and that this could mean a drop of around 80% in the cryptocurrency and therefore this would take BTC to the level of US$ 8 thousand.
Who also agrees with Brandt is Jeff Ross, CEO of investment firm Vailshire Capital, who said that investors in the cryptocurrency market will have a unique chance to buy Bitcoins at a very cheap price in the coming months.
don't make that mistake
But a whale of the cryptocurrency market, known as Light, claims that Bitcoin investors who believe in Brandt and sell their BTC at the moment are making a big mistake and that they will soon be punished with a new high in the largest cryptocurrency on the market. .
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“I don't like to speak in deterministic terms, but if you sold here, I think you only sold the fund.”
Kyle Davies, the co-founder of crypto investment firm Three Arrows Capital, shares the same sentiment and points out that the current value, at just over $40k, is rock bottom for BTC, and as such, it won’t. fall beyond this mark
“I have been meditating for three weeks, no Twitter, just prayers. I saw the future. And it doesn't include the death of Bitcoin. Rise like a phoenix from the ashes, the BTC bottom is within."
The same optimism is shared by well-known analyst Michaël van de Poppe who sees signs of a new rally for Bitcoin and highlights that the cryptocurrency is creating a 'bullish divergence'
Bears set ambush and could take Bitcoin to $35,000 while bulls are expected to take 80% up to Axie Infinity, analyst says
“Bitcoin’s lower value is creating a bullish divergence while counting on massive support at $41,000. If it hits $42.8-42.9k, a test of $46k is likely to happen and then bullish divergence unfolds."
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