{"id":809,"date":"2019-09-02T11:35:06","date_gmt":"2019-09-02T11:35:06","guid":{"rendered":"https:\/\/techcavit.com\/?p=809"},"modified":"2019-09-02T11:36:38","modified_gmt":"2019-09-02T11:36:38","slug":"in-peter-brandts-opinion-bitcoin-is-in-its-fourth-parabolic-phase-as-it-heads-towards-100k","status":"publish","type":"post","link":"https:\/\/techcavit.com\/in-peter-brandts-opinion-bitcoin-is-in-its-fourth-parabolic-phase-as-it-heads-towards-100k\/","title":{"rendered":"In Peter Brandt’s Opinion, Bitcoin is in its Fourth Parabolic Phase as it Heads Towards $100k"},"content":{"rendered":"\n

A lot of crypto analysts seem to have taken a bullish stance on Bitcoin despite the asset’s recent decline in its price. One of such is Peter Brandt, a veteran trader who said<\/a> on September 1, 2019, that Bitcoin has entered its fourth parabolic phase. As such, the cryptocurrency could set another record, rallying to a new all-time high soon.<\/p>\n\n\n\n

Peter Brandt’s Past Predictions<\/h2>\n\n\n\n

Peter Brandt is popularly known for his forecasts and has gained the interest of many traders as some of his predictions have come true in the past. For starters, he correctly predicted<\/a> an 80% dump in Bitcoin’s price in January 2018, and it turned out to be the case by the year\u2019s end. The iconic trader also forecasted<\/a> a bull run in April, and by June, Bitcoin spiked to its year-to-date high of $13,796.<\/p>\n\n\n\n

Of recent, Brandt also opined that Bitcoin has entered its fourth parabolic phase, which could do a lot of good for the crypto market. A phase, of this nature, could potentially take Bitcoin’s price beyond its present all-time high of about $20k. How high? One may wonder, it could be towards the $100,000 he says.<\/p>\n\n\n\n

Raoul Pal Says It’s Now or Never<\/h2>\n\n\n\n

Brandt’s tweet was also linked to that of Raoul Pal, CEO of Global Macro Investor and Real Vision Group. According to Pal<\/a>, a wedge pattern has just been exhibited in the Bitcoin short term chart. Moreover, it is not just any wedge, but one that has shown a high potential for success in the past.<\/p>\n\n\n\n

Pal further remarks that this may be the last time for those who do not have Bitcoin to dive into the market. In his opinion, there could be a rocket in Bitcoin’s price soon; a prediction that is similar to that of Brandt’s.<\/p>\n\n\n\n

Crypto Twitter Objects<\/h2>\n\n\n\n

On the other hand, some members of Crypto Twitter who made comments were in disagreement with Brandt’s and Pal’s opinion. These individuals remarked that the wedge pattern which Brandt and Pal spoke of is a pennant. A pennant, in their opinion, is a signal of a major dump in price in a crypto asset.<\/p>\n\n\n\n

Despite the contrary views, there is still a high chance for the fulfillment of Brandt’s prediction. For beginners, Bitcoin’s halving in May 2020, which will reduce the amount of Bitcoin’s supplied to the market, could help to surge its price significantly. PlanB, for instance, had predicted<\/a> in March that Bitcoin could rise to $55,000 after its halving in May 2020.
<\/p>\n","protected":false},"excerpt":{"rendered":"

A lot of crypto analysts seem to have taken a bullish stance on Bitcoin despite the asset’s recent decline in its price. One of such is Peter Brandt, a veteran trader who said on September 1, 2019, that Bitcoin has entered its fourth parabolic phase. As such, the cryptocurrency could set another record, rallying to […]<\/p>\n","protected":false},"author":15,"featured_media":810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,32],"tags":[380,1805],"yoast_head":"\nIn Peter Brandt's Opinion, Bitcoin is in its Fourth Parabolic Phase as it Heads Towards $100k - TechCavit<\/title>\n<meta name=\"description\" content=\"A lot of crypto analysts seem to have taken a bullish stance on Bitcoin despite the asset's recent decline in its price. 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