Trader Peter Brandt’s Bitcoin (BTC) Forecast
You may have heard about trader Peter Brandt’s prediction for Bitcoin (BTC). He believes that BTC could reach $43,200 in its next growth phase. This forecast is based on technical analysis calculations.
Prior to this, Brandt made a long-term forecast for Bitcoin, stating that the cryptocurrency will experience active growth no earlier than the third quarter of 2024 following the spring halving.
Brandt also suggested that the crypto market has passed cyclical lows, citing the November 2022 FTX crypto exchange collapse as a turning point when Bitcoin dropped to $15,000. Additionally, he considers all other cryptocurrencies to be scams and believes that only BTC can survive.
BTC to Hit $1M Price
Co-founder of BitMEX exchange Arthur Hayes predicted a bullish phase for the crypto market and anticipated a price jump for Bitcoin and Ethereum to $1 million and $100,000, respectively. His forecast followed a significant increase in the rates of both Bitcoin and Ethereum, with Bitcoin surpassing $37,000 but failing to break through $38,000 shortly after Bloomberg Intelligence’s prediction about spot Bitcoin ETF approval before Nov. 17.
Hot Take: The Future of Bitcoin and Ethereum
The forecasts by Peter Brandt and Arthur Hayes suggest an optimistic outlook for Bitcoin and Ethereum. While these predictions provide hope for crypto enthusiasts, it’s important to remember that market movements are unpredictable and can always surprise you. Keep an eye on the latest developments and expert opinions to make informed decisions about your investments in the crypto market.
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