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Peter Brandt: Bitcoin can still go ‘Parabolic’



The experienced trader and commodity technician, Peter Brandt, recently launched on Twitter, where he shared that he would not be surprised if Bitcoin enters a new parabolic phase.

The 71-year-old veteran trader became one of the first to accurately predict the end of the bull run in December 2017.

When the 2017 bullish race was at an all time high, Peter Brandt tweeted this to his almost 250,000 followers on Twitter:

& # 39; General rule of technical assistance: a violation of the parabolic advance leads to a decrease of the value of 80% +. If a general rule is followed, BTC should return to <$ 4,000. Note: This Tweet does not make me hate & # 39;

"I've seen that kind of things happened so many times in the past and they always end up the same, prices always fall from 80% to 90%," he said.

Brandt proved to be very successful with his predictions, both at the end of January 2017 and to a large extent since then.

Read more: What can you buy with Bitcoin ?: 2010 vs 2023

Now, Mr. Brandt said that Bitcoin could be on the verge of a parabolic phase, much like the one that BTC experienced before the historic cryptography boom of 2017.

It seems that the recent cryptographic increase is making Brandt optimistic again.

In December 2018, the crypto trader expected another huge drop in Bitcoin, which would stabilize around the price range of 1200, no doubt proving the resolution of even the most committed cryptography fanatics.

Crypto will not have friends at that time. Even the crypto die-hards could start thinking they're done with that, "he said.

Sometimes, it's good to be wrong, you should not be ashamed.

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