BlockBeats News, December 15 — Peter Brandt, a renowned trader and chart analyst who successfully predicted the 2018 Bitcoin crash, stated this morning that the bull market cycle has experienced exponential decay. The current Bitcoin bull cycle has undergone a parabolic rise, and it has now broken below the parabola. Historically, after breaking below the parabola, the average decline has been 80%. Peter Brandt estimates that based on this decline, the Bitcoin bottom will be at $25,240. In November, Peter Brandt previously predicted that Bitcoin might fall to $60,000 to bottom out.
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Trader Peter Brandt: Bitcoin has broken below the "parabolic rise" of the bull market cycle
BlockBeats News, December 15 — Peter Brandt, a renowned trader and chart analyst who successfully predicted the 2018 Bitcoin crash, stated this morning that the bull market cycle has experienced exponential decay. The current Bitcoin bull cycle has undergone a parabolic rise, and it has now broken below the parabola. Historically, after breaking below the parabola, the average decline has been 80%. Peter Brandt estimates that based on this decline, the Bitcoin bottom will be at $25,240. In November, Peter Brandt previously predicted that Bitcoin might fall to $60,000 to bottom out.