During a recent interview, trading legend Peter Brandt doubled down on his claim that Bitcoin is in the parabolic bull market.
Advertisement
Just because we had a one or two-day correction, that really doesn’t mean anything. You can go back in the Bitcoin history and find out all kinds of 30 to 50 percent corrections within a bull trend. So I think this thing will work itself out.
Morning Crypto Report: XRP ETF to Launch Today? Nasdaq Certifies Listing, Top Trader Predicts Bitcoin Price Plunge to $86,000, Vitalik Buterin Signs Trustless ManifestoBitcoin Treasury Giant Metaplanet Sinks 7% as Japan Eyes Crypto Hoarding ClampdownCrypto Market Prediction: Shiba Inu (SHIB) Volumes Hit Zero, XRP's New Reality at $1, Is Bitcoin (BTC) in Useless Uptrend?Big Day for XRP Coming, Shiba Inu (SHIB) Gains Utility in $2 Trillion Market, Scam Alert from Binance’s CZ — Crypto News Digest
Brandt also elaborated on his recent tweet about Bitcoin being “a market like no other.” He claims that this is the only market where you can see a series of parabolic advances on a log chart.
Mon, 06/24/2019 - 09:32
Peter Brandt: Bitcoin FOMO Getting Stronger, It Is Time to Fix Some Profits
Since 2010, the Bitcoin price experienced more than an 8,000-fold increase. The only viable comparison would be the German interest rates during the 1920s.
With that being said, Brandt claims that if you own Bitcoin, you have to be ready to ride it to zero.
If you can’t ride what you own to zero, then you own too much."
Advertisement
Dan Burgin
Vladislav Sopov
U.Today Editorial Team