Prominent trader Peter Brandt believes that the price of Bitcoin could end up reaching $150,000 during this market cycle
Brandt has noted that the highs of Bitcoin's previous two cycles line up well against an inverted parabolic curve. He expects the flagship cryptocurrency to hit the aforementioned price target if this tendency continues. At the same time, Brandt has warned that his method of analysis is not"fool-proof," which is why traders should exercise caution.
Brandt has also warned that there is a 25% probability that the leading cryptocurrency has already reached the apex of this cycle."Should Bitcoin fail to make a decisive new ATH and decline below $55,000 I will raise the probability of the Exponential Decay," Brandt added. At press time, Bitcoin is trading at $67,528 after dropping a mere 0.2% over the past 24 hours. by cryptocurrency trader Jake Wujastyk, Bitcoin's current price action is eerily similar to early 2017.
As reported by U.Today, permabull Tom Lee stated that the price of the leading cryptocurrency could potentially surge to as high as $150,000 this year. Alex Dovbnya 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.
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