Veteran trader Peter Brandt believes that the market has already bottomed, according to his recent tweet.
Bitcoin is currently up over 40 percent off its May 19 low of $30,000, currently trading at $42,018 on the Coinbase exchange.
As reported by U.Today, Brandt tweeted a market top warning to more than 510,000 followers right on the verge of the big crash.
In early May, the chartist also claimed that the industry would face a "come to Jesus" correction.
All-consuming fear
The Crypto Fear and Greed Index, which gauged market sentiment based on volatility, momentum, social media activity and Bitcoin's market share, has now plunged to a new low 2021 low of 11.
This is just three points higher than the reading the indicator showed on March 17, 2020, when the market was reeling from the pandemic-induced crash.
Historically, the market tends to bottom out when the fear becomes that pervasive.
Denys Serhiichuk
