Knowing the Decline of Bitcoin in 2018, Analyst Announces The Level BTC Will Reach

 

With Bitcoin accurately predicting its 84% ​​drop in 2018, Peter Brandt, a widely followed cryptocurrency analyst, predicted that the Bitcoin price could reach $ 200,000 in this bullish cycle.

Brandt, who specializes in interpreting chart patterns and knowing movements accurately, explained that Bitcoin's long-term bull market remains intact, adding that his technical analysis suggests that the price of the cryptocurrency may continue to rise.

Bitcoin - defining an orderly bull trend

Compared to the 2015-2017 bull cycle in $BTC - eight corrections exceeding 30% (two exceeding 40%)

With the exception of the Mar 2020 smash, the Dec 2018 to present bull trend has been extraordinarily orderly - so far

Thoughts? pic.twitter.com/0Du1lrSJVV

— Peter Brandt (@PeterLBrandt) March 18, 2021

However, Brandt emphasized that Bitcoin will go along the way. Bitcoin Will See These Levels During the interview, Brandt explained that he expects Bitcoin's price to reach $ 180,000 to $ 200,000 by the third or fourth quarter of the year, depending on the long-term trend. I'm looking at the larger picture.

Bitcoin in the past 10 to 11 years, you see these big rallies accelerating two to three years and then you get a big correction Brandt stated that the son march on social media can drive despair.

Brandt is not only known for correctly naming BTC's 2018 bear market, as the analyst has used it in other correction predictions for the price of the cryptocurrency in the past. In April 2019, the analyst set a price target of $ 50,000 for the cryptocurrency "in the next two years."

Bitcoin price crossed the $ 50,000 mark earlier this year and rose above the all-time high of $ 61,000 before enduring a correction that retested the $ 55,000 mark. Brandt recently stated that Bitcoin "acts as a store of wealth and a medium of exchange".