Brandt

Veteran trader Peter Brandt has suggested a potential decline in Bitcoin’s value below $40,000. He is known for applying Bayesian Probability Theory to market analysis. Brandt’s methodology involves revising the likelihood of events as new data emerges. This approach is a central tenet of Bayesian Probability Theory, which helps investors adjust their predictions based on changing information. Peter Brandt: There Are 65% Chances of Bitcoin Dropping Below $40,000 Brandt, who first began trading Bitcoin in 2016, initially believed there was…

This week has proven difficult for Bitcoin and the broader crypto market. After nearly reaching the $60,000 mark, Bitcoin’s price has dropped about 5%, currently trading at approximately $56,400. Significant outflows from spot Bitcoin Exchange Traded Funds (ETFs) notably influenced the downturn. Crypto Market Enters Extreme Fear as Bitcoin Struggles Although US markets were closed on Monday, substantial withdrawals resumed thereafter. On Tuesday, spot Bitcoin ETFs saw a net outflow of $287.78 million. Subsequently, on Wednesday, ETFs recorded a further…

Veteran crypto analyst, Peter Brandt has uncovered an inverted or expanding triangle pattern in Bitcoin (BTC). Utilizing classical charting principles, Brandt analyzes the technical pattern formation, highlighting its potential impact on Bitcoin’s price trajectory. What Bitcoin’s Inverted Triangle Pattern Means On August 12, Brandt took to X (formerly Twitter) to shed light on a recent pattern formation in Bitcoin’s price chart. Sharing a price chart illustrating Bitcoin’s price movements from May 2023 to November 2024, the analyst identified a unique…

The post Bitcoin: No Breakout, No Trade, Says Peter Brandt appeared first on Coinpedia Fintech News In the ongoing volatile cryptocurrency market, traders have liquidated a significant $205.86 million worth of short and long positions within just 24 hours. This likely occurred as Bitcoin the world’s biggest cryptocurrency, experienced significant price fluctuation between $60,500 and $58,000 level. Peter Brandt’s Strategy  Amid these notable ups and downs, Peter Brandt, a veteran trader and chartist made a post on X (previously Twitter)…

A crypto analyst has reignited the debate between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of both altcoins, the analyst has finally identified a clear winner in the competition.  Solana Wins Battle Against Ethereum In a recent X (formerly Twitter) post, legendary crypto trader and analyst, Peter Brandt drew a comparison between Solana and Ethereum, spotlighting their fundamental characteristics, strengths and weaknesses. Based on his analysis, Brandt suggests that it…

The post XRP Price Crash: Peter Brandt Issues Dire Warning Amid Ripple vs SEC Drama appeared first on Coinpedia Fintech News The ongoing crypto correction triggered by the high-impact news on Wednesday has not spared Ripple Labs-backed XRP in the past 24 hours. The large-cap altcoin, with a fully diluted valuation of about $60 billion and a daily average traded volume of around $2 billion, dropped nearly 8 percent in the last 24 hours to trade about 60 cents on…

The post Top Bitcoin Trader Peter Brandt Says Extremely Likely for the BTC Price to Hit $71K, What This Means For Altcoins appeared first on Coinpedia Fintech News Top Bitcoin trader Peter Brandt recently revealed his BTC chart analysis, predicting that the number one cryptocurrency could soon hit $71,000. Since the Bitcoin price fluctuations largely drive the altcoin market, another crypto rally could ensue if Brandt’s prediction holds.  In light of this, RCO Finance expected to capitalize on the impending…

The post Peter Brandt Makes Bold Prediction For Bitcoin To Hit $90,000 appeared first on Coinpedia Fintech News Veteran trader Peter Brandt recently incited excitement in the crypto community with his bold prediction for Bitcoin. He forecasted a potential surge in the crypto’s price, suggesting that it could soar past the $90,000 mark. According to Brandt, BTC might be unfolding a pattern he describes as “Hump->Slump->Bump->Dump->Pump’. However, he also cautioned that a close below $56,000 would negate this bullish interpretation.…

Veteran trader Peter Brandt has raised the possibility of Bitcoin dropping to as low as $44,000. He predicted this could happen based on a technical indicator that paints a bearish outlook for the flagship crypto.  Why Bitcoin Could Drop To $44,000 Brandt predicted in an X (formerly Twitter) post that Bitcoin could drop to as low as $44,000 if the flagship crypto has completed a double top. A double top is a bearish pattern that indicates that BTC could witness…