{"id":139415,"date":"2024-10-11T19:00:08","date_gmt":"2024-10-11T16:00:08","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139415"},"modified":"2024-10-11T15:23:56","modified_gmt":"2024-10-11T12:23:56","slug":"top-trader-issues-dire-warning-on-bitcoins-price","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/top-trader-issues-dire-warning-on-bitcoins-price\/","title":{"rendered":"Top Trader Issues Dire Warning on Bitcoin’s Price"},"content":{"rendered":"

He predicts that the price of Bitcoin (BTC<\/strong><\/a>) could collapse by up to 75% from its current level.<\/p>\n

Brandt\u2019s warning stems from his observation that Bitcoin typically experiences significant declines if it fails to reach a new high within 30 weeks of its previous all-time high.<\/p>\n

Bitcoin\u2019s current high of $73,737 was reached on March 14 and it has now been more than 30 weeks since that peak.<\/p>\n

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While claiming that this is simply a market observation and not a personal opinion, he said:<\/p>\n

I am always amused by those who confuse market observations with opinions.<\/em> Just like drivers who don\u2019t [look] both ways, they often end up in accidents.<\/em><\/p>\n

Despite the bearish outlook, Brandt mentioned that BTC remains the largest tradable asset in his portfolio.<\/p>\n

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Hey Bitcoiners
\nAre you familiar with the concept of \u201cmarket analogs?\u201d
\nHere is something to think about
\nIt has been 30 weeks since $BTC<\/a> made an ATH
\nWhenever has not made a decisive new ATH within this time length a 75%+ decline has occurred pic.twitter.com\/CUyK4C2W93<\/a><\/p>\n

\u2014 Peter Brandt (@PeterLBrandt) October 11, 2024<\/a><\/p><\/blockquote>\n