Peter Brandt, an expert in trading and a master of charts, is forecasting a bullish market for Bitcoin before the end of the year. During a recent interview, the expert expressed his opinion that, according to him, the present-day logarithmic graphs look exactly like what they did before in 2017 when Bitcoin shot up to its price massively.
He carried on by saying the same as last time there was a delay roughly about two months or so in which Bitcoin just spun around, but after those few months, Bitcoin started climbing up, and its price skyrocketed. The midpoint of the bull market from 2015 to 2017 was around 60% of the complete move. If the assumption we are making is true and following his interpretation of graphs, the price of Bitcoin would probably rise above $200,000 before the end of the year, said the veteran trader.
Brandt also stressed that if anyone is paying interest in Bitcoin’s meteoric rise, they would know what they are witnessing is history in the making.
He pushed on by saying that he challenges anyone to find him an asset or commodity that had four parabolic advances made on a logarithmic scale because it would have been impossible to quote any. He told the interviewer if someone would have said he is ever going to experience such metrics, he would have bet his life on it. According to the expert, what the current world is facing will be recorded in trade books. Anyone involved with cryptocurrency like Bitcoin is participating when history is being written.
The experienced trader said he had reformed the way of measuring the worth of his accumulated resources from dollars to Bitcoin. According to the veteran trader, he was wrong in accumulating dollars and setting his goal around that asset. The trader expressed his opinion by saying the dollar is the faintest resource in the world, and according to him, it is also the most devalued asset. Because of this recent revelation, the expert trader says his outlook changed in the previous year and right now thinks of Bitcoin as a way to quantify wealth rather than an asset that is traded.