After rising from 4000 to 8000 dollars on a chart of Bitcoin on a local scale has formed a parabola. During the recent correction the price has fallen below the pattern is formed, but this does not mean that BTC is completely stopped its growth. In the words of the famous trader Peter Brandt, the asset must form a new parabola, but with a different angle.
The history of corrections of Bitcoin
Yesterday’s elimination of a huge number of long positions on BTC/USD has become a cause for concern among many traders. Some even said that after the end of local growth, with a new hike to the bottom.
The Brandt has a different opinion on this. He also speaks about the rollback, but the rollback will be the beginning of the following parabolas, which in the end will lead us to a new historical high of Bitcoin.
Correction on the $ 2200 could be a good point to enter the market.
$2,200 correction should prove to be the swing trade buy pic.twitter.com/6IBjxgmIs8
— Peter Brandt (@PeterLBrandt) May 17, 2019
Peter also called for Consensus 2019, where he talked about the global future of the main cryptocurrency.
Bitcoin with a probability of 50 percent can be depreciated to zero, if you suddenly find one big Scam. The remaining 50 per cent chance the Bitcoin will enter a new parabola. In this case cryptocurrency can rise up to at least 200 thousand dollars.
Earlier, the trader talked about the high similarity of the current price movement with the beginning of the previous bullish trend in 2015. Then BTC also began its growth from a local parabola. However, after some time retreated below to enter the “new track”, which led us to a historical maximum of $ 20,000.
See also: Trader, predicted the fall of Bitcoin, announced the beginning of a bullish trend
Cryptocommunist there is every reason to believe the predictions of Brandt, because he’s with stunning accuracy has predicted the course of the bearish trend of cryptocurrency before it starts.
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