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Veteran Trader Peter Brandt Still Believes Bitcoin Could Go to $100,000

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Mon, 06/07/2021 - 04:39
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Alex Dovbnya
Despite its disastrous performance, Bitcoin could still touch $100,000 in the long-term, according to Peter Brandt
Veteran Trader Peter Brandt Still Believes Bitcoin Could Go to $100,000
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Veteran trader Peter Brandt is convinced that Bitcoin could still reach $100,000 in the long-term in spite of a recent correction, according to his June 7 tweet.   

This comes after he challenged other cryptocurrency traders to determine whether Bitcoin’s inverted chart was bearish or bullish.

As reported by U.Today, Brandt recently mentioned that $20,000 is his worst-case scenario for Bitcoin. This would mark a 69 percent correction for the largest cryptocurrency. Bitcoin peaked at $64,854 on Apr. 14 but it then retraced all the way back to $30,000 on May 19.

Bitcoin
Image by tradingview.com

Related
Market Bottomed Yesterday: Legendary Trader Peter Brandt
During the previous market cycle, Bitcoin saw an 84 drawdown from the December 2017 top. While Bitcoin had multiple severe corrections during its blistering rally in 2017, none of them exceeded Peter Brandt, a fact that recently caught Brandt’s attention.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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, can be contacted at alex.dovbnya@u.today.