Veteran Trader Correctly Called Huge Bitcoin Crash Update Outlook Updates on Top Crypto Assets
Veteran trader Peter Brandt believes that Bitcoin (BTC) could be headed for a sharp price decline.
Brandt, who has gained notoriety in crypto circles for correctly describing the 2018 Bitcoin crash, Says 633,200 followers on Twitter BTC could drop to $27,000.
The move would mark a drop of more than 31% for bitcoin, which is traded at the dollar39,627.71 at the time of writing. The top-rated crypto asset by market capitalization has fallen more than 2% in the past week and more than 7% in the past 30 days.
Brandt also speculates that the Nasdaq-100 may reflect the collapse of the Internet in the early 2000s, say On Twitter that chart gives him deja vu.
“It’s Deja Vu again. “
Yogi Berra, American philosopher of the late twentieth century.
If Brandt’s prediction on the Nasdaq is correct, it could mean tough days for Bitcoin.
Just this week, popular crypto trader Jason Pizino explained how Bitcoin is closely related to the index.
The analyst explains,
“Some of the challenges we have to overcome are the separation from the NASDAQ…
The problem with the Nasdaq itself is that we may be facing more downside on the Nasdaq which means more downside for Bitcoin, Ethereum and of course cryptocurrencies.”
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Featured Image: Shutterstock / jamesteohart / Natalia Siiatovskaia