Peter Brandt, Analyst Who Predicted 2018 BTC Correction: New Forecast

Peter Brandt is popular in the crypto community. He managed to correctly predict the correction of Bitcoin (BTC) in 2018. Recently, he shared his forecast for the cryptocurrency.

According to the analyst, the currency is expected to fall. Peter Brandt came to these conclusions after analyzing the results of a technical analysis of the Bitcoin chart. In his opinion, cryptocurrency is moving in the figure of the ‘pennant.’

With the pennant figure in mind, his prediction is that Bitcoin may fall. Peter Brandt, with such an ironic statement, drew the attention of the crypto community. “When it looks like a pennant and behaves like a pennant, it’s usually a pennant.”

Pennants on the Bitcoin chart

On the chart, the analyst marked two pennants. The first drop was in May 2022. During this period, the cryptocurrency fell from $38,000 to $30,000.

The first pennant closed closer to mid-June. Bitcoin fell from $30,000 to $17,000, after which it was corrected to $20,000. The second pennant, according to Peter Brandt’s chart, may close in mid-July.

Bitcoin’s average drop in the two episodes reviewed was about 27%. If history repeats itself, BTC could fall to $14,000.

Many members of the crypto community see the potential for BTC to fall to $10,000. At this level, in his opinion, cryptocurrency will find the “bottom.”

Peter Brandt is popular in the crypto community.

Who is Peter Brandt?

Peter Brandt started out in commodity trading in 1976. Until 1979, Peter managed large institutional accounts like the Campbell Soup Company, and Godiva Chocolate. In 1980, he founded Factor Trading Co., Inc. As well as trading, his company produced market research, and handled the trading activities of large institutional clients.

Peter’s first book, published in 1980, was titled Trading Commodity Futures with Classical Chart Patterns. It is considered a classic by many traders. His second book, called Diary of a Professional Commodity Trader became Amazon’s #1 ranked book on trading, staying at the top for 27 weeks.

Got something to say about Peter Brandt’s latest Bitcoin projection or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

The post Peter Brandt, Analyst Who Predicted 2018 BTC Correction: New Forecast appeared first on BeInCrypto.

Earning Passive Income With Crypto

Related Posts

Arsenal Loses Appeal Over Misleading Crypto Advertising

Premier League giants Arsenal F.C. have lost an appeal and been given a second warning by the U.K.’s Advertising Standards Authority (ASA) over the “misleading” marketing of…

Medieval Empires: Ertugrul To Ease Entry Into Web3 Gaming

In light of blockchain gaming’s advancement into the mainstream gaming industry, Medieval Empires: Ertugrul’s founding team attended the Blockchain Economy Istanbul Summit, the biggest blockchain event in…

Biggest Movers: ATOM Climbs to Highest Point Since May, While SOL Rises by Over 10%

Cosmos rose to its highest point since May earlier in today’s session, as crypto markets surged on Thursday. The global market cap is trading over 6.27% higher…

Task Force to Expedite Review of South Korean Virtual Asset Bills

South Korea’s top financial regulator has assigned a task force to “expedite the review process of bills on virtual assets,” said its chairman Kim Joo-hyun. The task…

Automobili Lamborghini’s Third NFT Drop is Here – “The Epic Road Trip”

Automobili Lamborghini is continuing its journey into Web3. The iconic brand is taking loyalists off-road and on a virtual mission that starts from the Moon, crosses space,…

Bitpay Reveals Prepaid Cardholders Can Get up to 15% Cash Back Rewards via Select Retailers

The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers….