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Analyst Who Nailed Massive Bitcoin Collapse Unveils Incredibly Bullish BTC Forecast

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Trading veteran and chart guru Peter Brandt is predicting a massive Bitcoin explosion before this year expires.

In a new interview on Real Vision Finance, Brandt says Bitcoin could erupt nearly 260% from its current price of $56,000. According to the veteran analyst, the current logarithmic charts look like they did during the 2017 bull market just before Bitcoin’s big move upward.

“I think we’re in that midpoint pause where in 2017 Bitcoin swirled around for a month or two before we saw the final move up, and you’ll note that the midpoint in the 2015 to 2017 bull market was at about one-half or 60% of the total move. If that’s true, that points to the type of price level… That $200,000 plus is where this market would take it if this chart interpretation is correct.”

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Brandt also asserts that Bitcoin’s price action is unprecedented, adding that anyone who is paying attention to the asset’s meteoric rise is witnessing history in the making.

“If somebody would’ve told me that there would be a market during my lifetime that would not only experience a parabolic advance but experience four parabolic advances, not just on an arithmetic scale but on a log scale, I would’ve bet my life against it. This is just unbelievable. People get caught up in the daily motion and the daily moment of Bitcoin without realizing we’re seeing a market advance unlike anything we’ve really seen before. To have four parabolic advances on a log scale in the course of a ten-year period is just unheard of. I would challenge anybody to find a price chart of any asset or any commodity that has gone through this.

So we’re really witnessing history. This is history in the making, this is something that history books will be written on. As a trader, it’s just unbelievable that I can participate in a market that is going through a situation like this. This is just spectacular, this is a spectacular ride, and everybody that’s involved in Bitcoin can know they’re really taking part in history.”

The seasoned trader reveals that Bitcoin has fundamentally changed the way he views his net worth. Brandt no longer measures his wealth in dollars, but rather in BTC.

“My mindset has really changed. Bitcoin is where I want all my wealth at some point in time. I really look at it very different, because if my goal as a trader has been to accumulate more US dollars, what that now tells me is I had the wrong goal, because my goal was to accumulate the weakest asset in the world, the most depreciating asset in the world, and that’s US dollars. So my mindset has really changed within the last year in terms of moving from Bitcoin as a trade to Bitcoin as a measure of wealth.”

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Bitcoin

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?

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  • Bitcoin price analysis is bullish.
  • BTC/USD set a new all-time high at $67,000 yesterday.
  • Slight retracement to retest $65,000 as support overnight.

Bitcoin price analysis is bullish today as a higher low has been set after a retest of $65,000 as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded with strong bullish momentum over the last 24 hours. Bitcoin gained 3.12 percent, while Ethereum gained 12.35 percent. Meanwhile, Solana (SOL) continues to dominate the market, with a gain of 20 percent.

Bitcoin price movement in the last 24 hours: Bitcoin sets new all-time high at $67,000

BTC/USD traded in a range of $63,807.96 – $66,930.39, indicating substantial volatility over the last 24 hours. Trading volume has increased by 34.33 percent and totals $49.2 billion, while the total market cap trades around $1.24 trillion, resulting in the market dominance of 46.29 percent.

BTC/USD 4-hour chart: BTC to reach $68,000 today?

On the 4-hour chart, we can see Bitcoin price slightly retracing overnight as bulls prepare for another push higher today.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?
BTC/USD 4-hour chart. Source: TradingView

Bitcoin price action has seen steady growth so far in October. After a several-week consolidation above $41,000 at the end of September, a strong push higher was seen on the 1st of October.

Since then, BTC/USD has seen steady growth with several higher highs and lows set. From the previous major swing low of $41,000 to the current swing high of $67,000, BTC has gained around 63 percent.

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Yesterday, the previous all-time high of $65.000 was broken clearly, further indicating strength for the momentum. Overnight a slight retracement back to the $65,000 mark was seen as bears looked to retest it as support, likely before further upside is seen today.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bullish as a slightly higher low has been set after a retest of $65,000 previous resistance as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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PayPal co-founder suggests he’s underinvested in Bitcoin while it records new ATH

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Bitcoin [BTC] did it once again. The asset broke its own record and caught the attention of the entire globe. Amidst this, PayPal’s co-founder, Peter Thiel expressed his angst over being “underinvested” in the world’s largest cryptocurrency.

The crypto industry as a whole garnered immense popularity over the last couple of years. From being closely regarded as an instrument that carries out illicit activities, to being adopted by governments across the globe, Bitcoin has certainly come a long way. Now, with a market cap of $1.2 trillion, Bitcoin stands as one of the most prominent currencies in the world.

Earlier today, BTC pushed past its previous all-time high of $64,899 and managed to hit a new high of $66,930.39. While BTC HODLers rejoiced this surge, an array of people were rather disappointed that they hadn’t poured in their money into the king coin. One of them was PayPal’s co-founder Peter Thiel.

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PayPal’s co-founder talks crypto

During a recent interview, PayPal’s Thiel revealed why he felt underinvested in the asset. He added,

“You’re supposed to just buy Bitcoin. I feel like I’ve been underinvested in it.”

The latest move of Bitcoin was lauded by the entire market. Speaking about the effects of BTC’s ongoing rally, the PayPal co-founder suggested that “we are at a complete bankruptcy moment for the central banks.”

An array of people took to Twitter and made their own predictions about Bitcoin. While some suggested that BTC was slated to endure a major fall, a few others noted that the coin could be aiming for $70K. Tesla’s Elon Musk had a rather bizarre prediction for the coin.

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The Tesla CEO’s latest tweet read,

Bitcoin’s rally certainly paved the way for several altcoins hitting new highs. Ethereum PETH], the second-largest cryptocurrency followed the footsteps of BTC and managed to hit an all-time high of $4,366.

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PayPal has played a major role in the crypto-verse in the last year. From opening doors to crypto and constantly remaining bullish about it, has pushed several assets to a new level.

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This Catalyst Could Trigger Long-Term Bitcoin Rally

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Bitcoin is surrounded by all kinds of optimistic predictions these days especially since the king coin managed to smash through all-time highs the other day.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $65,933.90.

This trigger could boost Bitcoin

Popular analyst Benjamin Cowen just said that one overlooked catalyst could ignite a big long-term rally for Bitcoin (BTC).

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During a new strategy session, the analyst analyzes the dollar index (DXY), which compares the US dollar against a basket of other major fiat currencies.

As the online publication the Daily Hodl highlighted, a weaker dollar can often imply higher prices in many assets.

He also said that one thing that could put extra bullish energy behind Bitcoin is the DXY beginning a macro trend downward.

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Cowen explained that the DXY is potentially on the edge of a bearish trend as it gets rejected from its 100-week simple moving average (SMA).

“Ideally speaking, in order to really be the best conditions for Bitcoin, we’d like to see this keep coming on down. This would be the best condition for Bitcoin and here’s the crazy thing when you talk about the US dollar currency index… Look at the actual macro range.”

He said that despite a rising DXY during the majority of Bitcoin’s lifetime, the king has still managed to maintain a long-term bullish structure.

The analyst is also analyzing what could happen if the DXY eventually entered a more considerable downtrend.

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“The dollar has more or less moved up during that time. It’s moved up, but there were a couple of key times when the dollar was moving down and that corresponded to Bitcoin bull markets.”

He continued and said the following:

“Imagine what Bitcoin could do if the dollar ended up coming back down… I think that would be incredibly bullish for Bitcoin.”

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