The crypto currency market has recently seen a lot of liquidation of $ 2.2 billion. In this process, the price of Bitcoin fell to $ 91,231 in Binance. Thus, many altcoin, especially Ethereum, have experienced an average of 20 percent decreases, causing pain and disappearance of deposits to a great extent. In the midst of these developments, experienced crypto currency analyst and trader Peter Brandt shared his views.
Peter Brandt: Bitcoin price may fall below $ 80 thousand, but…
The sudden price movement triggered gradual liquidations and forced investors to re -evaluate their positions and be at risk. Everything seems to be “over ,, but unlike widespread pessimism, an interesting view of experienced analyst and Trader Peter Brandt emerges. Brandt, who has been trading in financial markets for more than 50 years, expressed his opinion that even if the leading Bitcoin price has fallen below $ 80,000, it may still be a bull tendency for him. In this context, the analyst made the following sharing:
Fud and Fomo often cause explosions. Still, it is too early to know for sure. Although not a guess, BTC can go below 80,000 for me and it can still be a bull trend.
Expert Trader says that the fear of kidnapping, uncertainty and suspicion (Fud) often create scenarios such as recently and are too early to know for certain. According to Brandt, although this is not a guess, even if it is less than $ 80,000, BTC does not mean that we are officially in a bear market.
Isn’t the work completed?
Interestingly, there is a space that has not closed at the level of $ 75,000 in CME Bitcoin futures from November. If the price of Bitcoin stops there and finishes the job, the market may remain intact with previous rise forecasts. Analysts also reinforce the idea that the Taurus run may not yet be finished by pointing to the historical market cycles in which the corrections of this size come before the new peaks.
For now, it seems to remain more trader optimism. He also believes that key support levels can trigger another wave of accumulation and increase the prices once again even if it takes time to wrap their wounds. For developments Kriptokoin.comContinue to follow.
