Peter Brandt, who came to the fore in the crypto money market with his accurate predictions on Bitcoin (BTC) price, announced his new predictions. Brandt expects a $10,000 rise for the Bitcoin price. Here are the details…
Peter Brandt announced his new Bitcoin prediction: $40,000!
Famous trader Peter Brandt voiced the bullish trend towards Bitcoin (BTC), predicting a target price of $40,000. Brandt made these comments in a tweet on April 14, stating that Nasdaq, Gold vs YPY, London Cocoa stocks and gold are also on the rise. He announced that he is in a long position in these assets. This positive outlook comes as BTC stabilizes above the $30,000 psychological level amid an upbeat outlook in the broader cryptocurrency market.
Meanwhile, Ethereum (ETH), the second largest cryptocurrency by market capitalization, has gained over 10 percent in the past 24 hours. Price, cryptocoin.com As we reported, it rose with the momentum from the recent Shanghai (Shapella) upgrade, which is expected to increase the scalability and security of the network. According to experts, BTC is poised to reach $35,000 and experts suggest strong possibilities to surpass this level in the near future. The price has surged over 2% in the past 24 hours to reach $30,873.
Important data for BTC draws attention
This week, 30,500 BTC options with a face value of $0.93 billion will expire at a Put Call Rate of 0.99. According to experts, the “maximum pain point” for BTC is around $29,000. On the other hand, 260,500 ETH options with a face value of $5.5 billion are also about to expire with a Put Call Rate of 0.83 and a “max pain point” of $1,850.
Despite BTC’s impressive rise of around 85 percent this year, according to some, Ethereum is poised to outperform in the near future. Relative spot demand for ETH is rising and futures markets point to a potential shift towards ETH. The expiration of more ETH options today indicates more demand for ETH than for BTC.
Staked ETHs are withdrawn
TokenUnlocks reports that around 240,000 staked ETH has been withdrawn and around 100,000 ETH has been deposited after the Shanghai upgrade. Currently, 1.01 million ETH is waiting to be withdrawn. Notably, Kraken is the platform from which 63 percent of staked ETHs are withdrawn due to its agreement with the US SEC, while Coinbase and Huobi account for 11 percent and 5.1 percent, respectively.
The rise in Ethereum prices is expected to have a positive impact on the broader cryptocurrency market as investors turn to altcoins in search of higher returns. However, analysts warn that the market is extremely volatile and investors should be careful when trading cryptocurrencies.
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