Legendary commodity trader Peter Brandt has quoted his own earlier tweet published in 2022 where he predicted Bitcoin not reaching a new all-time high until early 2024.
Brandt has been in the commodity trading sphere since the 1970s and he is one of the most skilled traders in this. He often posts charts related to Bitcoin and some other top cryptocurrencies. In the meantime, Bitcoin has broken above the whopping $66,000 price mark, coming closer still to the historic peak of 2021.
Brand hints his bullish prediction confirmed
Referring to a tweet he published in mid-June two years ago, Brandt stated that he had completely forgotten about it. In that tweet, the trader shared his expectations that the world’s flagship cryptocurrency would hardly make it to a new all-time high until early 2024. However, he pointed out that “by then we will be in a giant uptrend.”
Brandt has got his prediction right, since Bitcoin has been in a massive rally since the start of the year and risen by way more than 50% already. A new all-time high has not been reached as yet, however, BTC is indeed in a giant uptrend thank to the approval of spot Bitcoin ETFs that was made by the Securities and Exchange Commission in the middle of January.
“I had forgotten this Tweet "X" about Bitcoin. Just goes to show a broken clock is right twice each day,” Peter Brandt stated.
Last week, he published a Bitcoin chart with monthly candles. Brandt explained that monthly candles can be “take-off” or “starting” ones and there can also be “ending” or “blow-off” candles. He believes that currently the market is witnessing a “starting” one forming, thus hinting that he expects the Bitcoin rally to continue.
Bitcoin soars above $66,000
Within the last 24 hours, the leading digital currency showed an uptick of more than 8%, soaring from the $61,530 zone above $66,000.
Today’s growth of Bitcoin comprised approximately 5.41%, pushing BTC to the $66,450 zone but then taking it down back to $66,000 where it is exchanging hands at the time of writing this article.
Overall, within the last week, Bitcoin has demonstrated a mammoth-sized 29% increase, rising from $51,187 to the current $66,000 level.