“Don’t Expect These Levels!” Bitcoin Predictions from Two Legends!

The cryptocurrency market was hit hard in sharp selling today. Leading crypto Bitcoin lost the critical $40,000 level. Moreover, as it fell below 39 thousand dollars, critical Bitcoin predictions started to come. In this environment, legendary analyst Peter Brandt sent a warning signal to BTC investors. However, he noted that the silver lining depends on breaking the barrier at this level. Elsewhere, renowned analyst Samson Mow poured cold water on investors’ expectations for Bitcoin to reach $30,000.

Bitcoin predictions from the legendary analyst:

Experienced analyst Peter Brandt expressed his concerns about the future course of Bitcoin price. In his statements, Brandt painted a potentially worrying picture for investors. In a recent market analysis, Brandt shared a Bitcoin price chart showing a right-angled expanding triangle formation, which heralds a reversal to the downside. In this analysis, Brandt emphasized the reliability hierarchy of graphs. His bet is based on the completion of the right-angled expanding triangle, a pattern characterized by two distinct lines, with support as a horizontal line and resistance as an oblique bullish line.

This pattern generally reflects increasing investor uneasiness and indecision. Therefore, if not detected immediately, it traps unsuspecting investors. The formation of a right-angled expanding triangle typically follows an upward move. In the case of Bitcoin predictions, this move occurred before the Bitcoin ETF decision and the significant decline in quotes due to Grayscale’s massive sell-off.

Although the triangle appears to be a reversal formation, in Brandt’s opinion, this formation indicates a lack of buyers to continue the upward move. As a result, Bitcoin predicts further declines unless it exceeds a significant threshold. The analyst emphasizes that the bearish forecast will be invalid if BTC manages to rise above the $42,400 level. In a market dominated by uncertainty, Brandt’s warning adds a layer of caution for investors. However, amidst the concerns, there is a glimmer of hope tied to the crucial level.

““Those waiting for $30,000 for Bitcoin will be disappointed!”

Leading Bitcoin supporter Samson Mow shared some posts on social media for his Bitcoin predictions. Mow stated that he does not believe that the BTC price will drop to $ 30,000. The analyst cited recent rumors and opinions that many investors hoping that Bitcoin will fall to the $30,000 range will start stockpiling BTC at these levels. “I think they will be disappointed,” Mow concluded.

Blockrock and Fidelity are buying Bitcoin as exits from GBTC continue

Meanwhile, investors continue to exit Bitcoin ETFs and Grayscale in particular. With the impact of this, BTC fell below the 39 thousand dollar level in the last 24 hours. Yesterday, Grayscale saw a massive outflow of 14,292 BTC, valued at approximately $565.84 million. Unlike Grayscale, eight other spot Bitcoin ETF issuers purchased 9,755 BTC worth $386.24 million. Notably, Fidelity saw an inflow of 5,312 BTC, worth $210.33 million.