Veteran analyst Peter Brandt shared his latest assessment of Bitcoin with 600 thousand followers on Twitter.
Expressing his thoughts with the title of the effects of volume in Bitcoin, the analyst also shared a chart.
Brandt stated that the bottoms, which play a key role in Bitcoin, come with large volume, and the majority of investors panicked during these bottoms and surrendered to the market.
Stating that this has not happened yet, the analyst said, is this the next? asked the question.
Here’s Brandt’s chart:
Brandt’s response came from another popular analyst, Willy Woo.
After stating that Brandt was using the Coinbase chart, Woo stated that the real selling pressure did not come from the US and added:
“This is a Coinbase chart, selling pressure is due to loss of leverage in futures markets and mostly Asian spot exchanges.
Overall, no signs of a sale on-chain yet (HODLers holding, speculative investors took profits). Effective consolidation under weak Range liquidity.”
Woo also underlined that the dumps that lead to big surrenders were experienced at the end of the bear market, and stated that since there was no big sale by Hodlers, he saw the declines as a part of consolidation and accumulation.
*Not Investment Advice.