Brandt’s Bitcoin Price Cap Prediction Still Relevant
Trader Peter Brandt’s forecast for the Bitcoin rate to reach its peak in August-September remains in force.
On May 1, Brandt published a chart of the BTC price dynamics, which shows a parabolic slope in red lines. Peter suggested that between August and September, the cryptocurrency’s value will touch the upper line of the figure, which will be in the range of $125,000 to $150,000.
Bitcoin price fluctuation chart by Brandt
On August 14, the BTC price updated its historical maximum, rising to $124,624. Therefore, it can be assumed that another upward impulse will soon occur, which will bring the coin’s price to $125,000 or higher. After that, as Peter believes, the Bitcoin rate will fall by 50%, that is, kriptovalyuta may fall to $62,500 during the bearish trend.
Yesterday, Brandt asked The Wolf Of All Streets financial podcast host Scott Melker what he thought of the May forecast. Scott responded, «I think you did a great job.»
Apparently, Melker shares Peter’s point of view and believes that the bullish rally that started in January 2023 will end in the Bitcoin market within the next month and a half. In this case, a downward trend will emerge, which will be observed for at least about six months.
