bullish

2024

Bitcoin

when

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<a href="https://x.com/PeterLBrandt/status/1846531276200706389" rel="noopener noreferrer nofollow">Peter Brandt</a>, who is considered a legend and veteran of the financial markets and has been active for over 50 years, recently made a bold prediction regarding&nbsp;<a href="https://u.today/bitcoin-btc-breakout-confirmed-3-price-levels-to-watch-next" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>.&nbsp;
Brandt's prediction revolves around the "Banana Zone" phenomenon, which has been heavily influenced by Raoul Pal this year. The "banana zone" is a theoretical period on the market when the price of an asset follows a trajectory reminiscent of a banana, i.e., parabolically rising and expanding.&nbsp;
Pal has long speculated that&nbsp;<a href="https://u.today/100-million-bitcoin-moves-amid-sec-scrutiny-on-cumberland" rel="noopener noreferrer nofollow">Bitcoin</a> and the cryptocurrency market in general will enter a "banana zone" this cycle. Although it has not happened yet, the former Goldman Sachs top manager is not giving up and insists that such a time will come, but according to his latest take, "no talk of yellow fruit until we cleanly break $70,000."&nbsp;
<blockquote>
 $72k for me <a href="https://t.co/BOfiNsz8KM" rel="noopener noreferrer nofollow">https://t.co/BOfiNsz8KM</a>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1846531276200706389?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 16, 2024</a>
</blockquote>
At the time, Peter Brandt weighed in with his views on when the major cryptocurrency might enter a period of unbridled parabolic growth, and if Pal is waiting until $70,000 is secured, Brandt is waiting for $72,000.&nbsp;
<h2 dir="ltr" id="preparatory-work">Preparatory work</h2>
The logic behind such an assessment may be that this is almost a relevant all-time high for the price of Bitcoin, which was only reached in March this year.&nbsp;
Following Brandt's logic, we can say that until the cryptocurrency shows bullish ambitions right next to its historical high, talk of a "banana zone" is premature.
So, while the "banana zone" is yet to come, in the meantime, all eyes will be on the $72,000 mark on the&nbsp;<a href="https://u.today/cryptocurrency-market-witnesses-greed-levels-not-seen-since-july" rel="noopener noreferrer nofollow">Bitcoin</a> price chart.

Veteran Trader Peter Brandt Reveals When Bitcoin Will Enter 'Banana Zone'

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