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Peter Brandt Says Bitcoin Is on the Brink of ‘Parabolic Advance’, Ready to Hit $50,000

  • Yuri Molchan
    📰 News

    Peter Brandt, a market expert with a long-time trading history, thinks Bitcoin is about to repeated its massive rise after a deep fall in 2015


Peter Brandt Says Bitcoin Is on the Brink of ‘Parabolic Advance’, Ready to Hit $50,000
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Once again Forbes goes into various expert opinions regarding the future of the Bitcoin price, which sprang up after the recent BTC surge. Experts are mainly bullish at the moment, though many of them are being careful.

Technical indicators are pro-Bitcoin at the moment

Peter Brandt, a veteran in market trading, believes that currently the situation which happened after a deep fall of the BTC rate is repeating itself. Back then, he says cited by Forbes, the Bitcoin price suffered a major fall just to produce a parabolic advance at the end of 2017.

In short, Brandt states that the major digital asset may well soar to the $50,000 level within next two years. This is what can be seen on charts, he adds.

Peter Brandt

 

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Skeptics’ voices rise faster than Bitcoin

Some technical analysts share Brandt’s vision regarding the future bull market. However, a lot of experts remain skeptical. The CEO of BitBull Capital, Joe DiPasquale, believes that one should not trust only market history to make brave forecasts.

"While technical analysis has a place in all markets, past performance is no guarantee for future results," he adds.

Still, DiPasquale agrees that Bitcoin price may keep rising if the bullish trend keeps up.

CEOs of other crypto investment platforms support DiPasquale saying that you need to be extremely careful when putting forward market predictions.

"We can't depend on them as they tell us more about the crowd's sentiment than the actual value of the asset," says Marouane Garcon, head of Amulet, a crypto investment firm.

Mass adoption is the key

Still, DiPasquale agrees that there is a situation when Bitcoin price may hit $50,000. To let it happen, BTC has to reach mass adoption.

"If Bitcoin adoption continues to grow exponentially i the next two years, we can easily see it hitting the $50,000 mark," he points out.

Many other experts, such as Charles Cascarilla from Paxos, tend to think likewise.

"The next wave of growth in this cycle will be driven by adoption from mainstream retail and institutions, markets that are order of magnitudes larger than the current users. In that context, $50k seems possible."

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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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