Based

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/peter-brandt-analyzes-bitcoin-price-trends/" data-wpel-link="internal">Peter Brandt Analyzes Bitcoin Price Trends</a> 
For over 40 years, market analyst Peter Brandt‘s new <a href="https://en.coin-turk.com/massive-bitcoin-transfer-stirs-speculation-in-the-crypto-world/" data-wpel-link="internal">Bitcoin</a> (BTC) price analysis has resonated widely in the <a>cryptocurrency</a> world. Since the 1970s, Brandt has been active in <a>financial</a> markets, noting that Bitcoin’s price has been recording consistently lower highs over the past six months. 
<h2 style="text-align: justify" id="strong-brandt-speaks-negatively-about-bitcoin-s-outlook-strong">Brandt Speaks Negatively About Bitcoin’s Outlook</h2> 
According to Brandt, Bitcoin‘s price has been forming consistently lower highs for the past six months. The latest of these lower highs came after a new price peak of around $74,000 in March, and in the following months, it failed to surpass this level. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-376078" src="https://coin-turk.com/wp-content/uploads/2024/08/Peter-Brandt-Bitcoin.png" alt="" width="554" height="544"> 
The analyst stated that this situation could be interpreted as a downtrend in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">technical analysis</a>. Based on this alone, he predicts that the price of the largest cryptocurrency is unlikely to exceed $69,000 in the short term. 
Brandt’s assessment could reduce the ultra-bullish sentiment observed in recent weeks and create a fear factor in the market, increasing the fragility of the price structure. 
<h2 style="text-align: justify" id="strong-brandt-s-pessimistic-comment-drew-criticism-strong">Brandt’s Pessimistic Comment Drew Criticism</h2> 
On the other hand, Brandt’s latest Bitcoin analysis and his pessimistic comment faced some criticism. He is accused of being inconsistent for presenting a negative forecast shortly after sharing positive predictions. Some commentators, describing this situation as “changing shoes,” criticized the rapid change in Brandt’s predictions. 
Known for his criticisms of Bitcoin, Peter Schiff also did not remain indifferent to Brandt’s new comments. Schiff reminded Brandt of his previous prediction that Bitcoin would perform five times better than gold. Since then, BTC’s price has fallen by 4%, while gold has risen by 2%, leading Schiff to question whether Brandt is still as optimistic as before. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/peter-brandt-analyzes-bitcoin-price-trends/" data-wpel-link="internal">Peter Brandt Analyzes Bitcoin Price Trends</a></h5>
The post <a href="https://en.coin-turk.com/peter-brandt-analyzes-bitcoin-price-trends/" data-wpel-link="internal">Peter Brandt Analyzes Bitcoin Price Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Peter Brandt Analyzes Bitcoin Price Trends

Table of Contents

COINTURK NEWS

Other articles published on Aug 1, 2024

Telegram Launches In-App Browser for TON Sites, Bringing Web3 to 950M Users

Cardano (ADA) Price Crashes 50%! Bears Dominate as Technicals Worsen

South Korea Introduces Supervisory Fee for Crypto Operators: Major Exchanges to Pay Up

New Bahamas Digital Asset Legislation Passed to Strengthen Crypto Asset Management

Fidelity International Launches Physical Bitcoin ETP on London Stock Exchange – Could It Push BTC...

MicroStrategy adds 169 Bitcoin worth $11.4M in July 2024: Report

Join our free newsletter for daily crypto updates!