When will bitcoin rise again, according to experienced analyst?

Analyst Peter Brandt, who closely monitors the price of bitcoin, made a prediction that a new high in the digital currency should not happen for another two years, i.e. in 2024. recovery of the cryptocurrency market.

The analyst has been known for trading the futures market since 1975 and has also been tracking cryptocurrencies in recent years. It is common for Peter to analyze bitcoin and ethereum, giving investors insight into the current market situation.

In recent months, however, he has produced a pessimistic forecast for the sector, indicating that the price of bitcoin could fall as low as $27,000, which has indeed happened in recent days. Now he is already planning the next steps after getting his analysis right, even pointing to a possible bottom in the price of the digital currency.

Bitcoin’s new all-time high is predicted in two years’ time, says veteran trader

Last Sunday (12), as bitcoin was beginning to chart a serious downward move in price, veteran Peter Brandt announced that he is aware of the move in the coming days.

According to him, if the price of the digital currency does not rise above May 31, the market should suffer a lot in the coming months. On the date mentioned by Peter, the price of bitcoin closed at US$31,792.31, and today each BTC is worth US$22 thousand.

Seeing the analyst’s speech, Bitcoin maximalist Tuur Demeester said the market will likely suffer a little in the coming months, but the technology will survive as it has for the past 13 years.

In response, Peter Brandt made his prediction that Bitcoin’s next all-time high will likely not come for another two years, early 2024, when he believes the market will experience another frenzied high.

“I totally agree with Tur. In my opinion, we won’t make a new ATH until early 2024, but by then we’ll be in a massive uptrend.”

Bitcoin price will not fall below $19,000

In response to requests from the bitcoin community in recent days, Brandt has commented on what he believes is the “bottom line” in the current movement of the digital currency market.

According to him, the drop is brutal, but it should not fall below $ 19,000, a value that would already be the lower limit. second the experienced trader.

“IMO, the 19k to 20k support will be very solid when we go that low.”

It is unclear whether bitcoin’s decline will reach the threshold set by Peter as the decline continues and is at 5% in the past 24 hours. THE Bitcoin’s lowest price in 2022 so far is $20,840.00reached this Tuesday (14).

Source: Live Coins

follow:
\