Famous Name Made “U-Turn” About Bitcoin: Here Are His New Comments!

Veteran trader Peter Brandt tweeted on Friday. Bitcoin (BTC) He made a U-turn on his guess.

“Bitcoin May Not Have Another Hard Fall”

Although he did not explicitly state the reason for this change in his views, he cryptocurrency suggests that it may not experience another sharp price drop. However, it still expects it to stay lower for a while.

In addition, the famous trader’s sharing of “laser eyes” like those of Bitcoin supporters may indicate a change of mind on BTC.

According to the analyst, while it is not the right time to fully share “laser eyes”, for now, he shows a slight optimism.

thoughts on $BTC
Trend lower but I’m thinking another sharp decline may NOT happen. For now I’m considering incandescent vision but will transition to LED then laser vision as warranted. will keep @BitcoinLive1 members updated https://t.co/B21biKQ8fC pic.twitter.com/anKVqsfNUB

— Peter Brandt (@PeterLBrandt) November 4, 2022

On October 25, Brandt claimed that there would be a sharp drop in the price of BTC. Specifically, the analyst had set the target at $13,000. At the time, Brandt stated that he expected little excitement from the Bitcoin markets for a while, stating that a bull run to new highs could begin in late 2023 or early 2024.

It should also be noted that Brandt is not the only analyst to have a positive opinion on BTC. Sharing Glassnode data on Thursday, Ali Martinez pointed out that the number of Bitcoin addresses has increased. According to the analyst, this is often a sign of accumulation.

In an analysis on Friday, Martinez claimed that a close above the 21-week moving average could push the asset’s price up to $24,000, around the 200-week moving average.

But not all analysts are optimistic. il Capo of Crypto maintains its forecast that the BTC price will drop to $14,000 in November. The analyst successfully predicted Bitcoin’s recent rallies to $21,000 and now to $21,500.

*Not investment advice.