👍👍Is the Bull Run Over? Legendary Bitcoin Analyst Speaks 👍👍
Bitcoin analyst Peter Brandt made statements focusing on the concept of "exponential collapse" in the Bitcoin price. According to Brandt, the price of Bitcoin may rise again after experiencing a retreat towards the $ 30,000 level. There has been a volatile atmosphere in the cryptocurrency market lately, and this situation, along with the price movements of Bitcoin, confuses investors.
Brandt states that there are some concerns about whether the Bitcoin bull run is over. The famous analyst states that Bitcoin's bull market cycles lose momentum over time and this trend shows the exponential collapse in Bitcoin. While Brandt emphasizes that the current surge is the fifth bull cycle, he suggests that momentum has diminished compared to previous cycles and approximately 80% of the exponential progress has been lost. He also acknowledges the impact of halving events on Bitcoin price, but points out the sobering reality of exponential collapse.
Brandt claims that there is a 25% chance that Bitcoin will fall to the $30,000 level. In this case, he states that the Bitcoin price may retreat to the lows in 2021. However, Brandt thinks such a correction could create a potential basis for an uptrend in the long term and draws parallels to similar chart patterns in the gold market.
General Framework in Brandt's Analysis
"Do I accept the exponential collapse? I don't want to believe it, but the data speaks for itself," Brandt said in his analysis. By using the following statements, he indicates that he accepts the weight of the data in his analysis. At the time of analysis, we observe that the Bitcoin price was at $63,040.
Brandt's assessments address potential risks and opportunities regarding Bitcoin's future price movements. Concepts such as exponential collapse and bull run require caution against fluctuations and uncertainties in the cryptocurrency market. It is important for Bitcoin investors to be alert to price fluctuations and evaluate analysis carefully.
