0
📰 News

Trading Legend Peter Brandt Floats the Possibility of Bitcoin Bull Run


Trading Legend Peter Brandt Floats the Possibility of Bitcoin Bull Run
Contents

Trading vet Peter Brandt has just taken to Twitter to share some exciting news for Bitcoin fans. Brandt claims that it wouldn’t surprise him if BTC enters a new parabolic phase, which in layman’s terms means that Bitcoin is on the verge of another bull run.

👉MUST READ

[02/19] Bitcoin (BTC) Price Prediction: Bitcoin Value Promises to Remain the Same

[02/19] Bitcoin (BTC) Price Prediction: Bitcoin Value Promises to Remain the Same

A parabolic phase

As Bitcoin is hovering above $5,000, investors are wondering if there’s more to come in this rally. Now that the number one currency has surpassed a major resistance level, it is tempting to assume that the market has entered a ‘parabolic’ phase, which is simultaneously the most dangerous and the most sought after pattern because of immense profits it can possibly generate. It usually forms when there a steep rise in prices that is driven by FOMO (fear of missing out) and huge speculations.

When cryptocurrency prices are suddenly rising, neophyte traders do not want to miss the boat. Eventually, the euphoria reaches its boiling point, and a huge sell-off ensues.  

👉MUST READ

Williams %R Indicator Shows Overdone Bitcoin Sell Off, Fueling Speculations About Potential Market Reversal

Williams %R Indicator Shows Overdone Bitcoin Sell Off, Fueling Speculations About Potential Market Reversal

The bottom has been reached

In the above-mentioned tweet, Brandt assumes that Bitcoin might have already reached its bottom. In December 2018, Bitcoin fell to the $3,100 level. At the same time, there is also a possibility that BTC might retest this bottom again before another bull run. As reported by U.Today, another prediction states that Bitcoin could bottom out at $2,500.

Cover image via u.today
Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings