Veteran Analyst Says BTC Might See Further Correction but ‘Prices Have Not To...
Following bitcoin’s sharp pullback on November 26, renowned trader Peter Brandt says BTC is likely to see a further correction, although he thinks prices have not topped. The comments follow the massive sell-off of cryptos that resulted in traded volumes of $8.5 billion being recorded across exchanges in just 24 hours. According to Messari, this is the second-highest traded volumes figure ever recorded. Prior to the bears taking over, BTC had gone on an extended bull run and during the run up, many analysts predicted the digital asset would at least breach the $20,000 mark. However,....
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Peter Brandt, a veteran financial analyst and trader, is questioning whether Bitcoin has more upside in the near term. Bitcoin (BTC) faces the prospects of falling further even after its price made a strong recovery after crashing from $65,000 to $30,000 in May 2021.So it reflects in the latest statements from Peter Brandt, chief executive of global trading firm Factor LLC, who questioned, if not asserted, the longevity of the ongoing relief rally in the Bitcoin market, especially after a 50%-plus price crash.The veteran commodity trader challenged "BTC price historians" to identify a....
Vanda Research has warned of a broad correction in the cryptocurrency market. Ben Onatibia, the firm’s partner and senior strategist, said that the surge in cryptocurrency prices this year is reminiscent of bitcoin’s rally in 2017. A Correction in Crypto Market Appears to Be Brewing, Says Analyst Vanda Research published a report Monday warning of a broad correction in the cryptocurrency market. The firm’s partner and senior strategist, Ben Onatibia, explained that in 2017 the bitcoin price rise was followed by a correction and a jump in interest in then-lesser known....
Bitcoin has corrected 17% so far and could have further to go. But it should be OK. Veteran trader and chart guru Peter Brandt has made a cheeky correlation between the current Bitcoin market correction and the prevalence of ‘laser eyes’ on Twitter.In a tweet on April 18, the technical analyst tied the correction to irrational exuberance in markets as exemplified by the meme:“The chances of a correction in cryptos is directly related to the prevalence of laser eyes on Twitter. Want the correction to end? Get rid of your laser eyes.”The laser eyes meme that initially swept across crypto....
Bitcoin and the entire cryptocurrency market have been caught within a parabolic advance as of late, with BTC leading the charge as altcoins follow its lead Where the cryptocurrency trends next will undoubtedly depend on whether or not bulls can maintain control of its price action as it approaches $30,000 This rally is nothing short of parabolic, with Bitcoin tapping a half a trillion-dollar market cap yesterday evening One veteran trader is now pointing to […]
Bitcoin has undergone a strong correction from the highs of $13,850 set earlier this week. At yesterday’s lows, the cryptocurrency traded for $12,900. Analysts think that Bitcoin remains embroiled in an uptrend despite the correction in this market. One historically accurate analyst shared an analysis indicating that the cryptocurrency has a high likelihood of consolidating […]