A new Bitcoin prediction is in the crypto news today, accompanied by a sneak peek at the future of XRP payments. The guy behind the statement is no one else but the veteran technical trader Peter Brandt who became a crypto legend for calling Bitcoin’s plunge in January of 2018.
In his latest set of predictions, Brandt is expanding on the fact that BTC is gearing up for a parabolic bull run. As he told Yahoo Finance, Bitcoin could soon be targeting $50,000 and surge massively by breaking out of the comfort zone:
“I believe that what’s happened from December of 2017 through December of 2018 is really an analogue to what happened in the 2013 to 2015 bear market, where we saw a sequential 10 up and down move in the bear market. And we’ve almost identically formed that same sort of pattern. After the 2015 low in Bitcoin, we saw the market then developed into a parabolic advance.
And so, I think the analogues are holding remarkably well, and based on those analogue studies I think cryptos now will go back into a parabolic bull market. The only question I have is do we rally here some, and then sometime in late summer, check the late 2018 lows or not. I mean, there’s a chance it does and there’s a chance it doesn’t.”
Brandt also said that the bull run will happen over the course of the next two to three years.
“What we know is, when Bitcoin starts moving, it moves. It doesn’t hold up for everybody to catch the stage coach. And so, if we start developing some upside momentum, whether we come back down and have a break into the late summer and then start back up or whether we keep going from here, I think we’re going to see a similar parabolic advance.
And I think it’s easy to look at that advance exceeding the $20,000 high, or near the $20,000 high we saw in late 2017. I would guess the target’s probably around $50,000.”
Even though this is quite an optimistic outlook, it is also one that went viral in the crypto news section because of Brandt and his proven instinct.
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