Experienced trader and analyst Peter Brandtdescribed Balaji Srinivasan’s $1 million Bitcoin price prediction within 90 days as “stupid”.
Srinivasan’s prediction was skeptical and criticized by various members of the global investment community, including renowned academic and risk analyst Nassim Nicholas Taleb.
The criticized forecast by former a16z partner and Coinbase CTO comes after the price of Bitcoin recently surpassed $28,000 as the ongoing crisis in the banking industry led to speculation of a dovish Federal Reserve U-turn.
Bitcoin has reached levels not seen since June 2022, and its price has increased by a dazzling 70% since the beginning of the year.
Brandt also highlighted recent CME gaps in BTC price. CME gaps refer to the price difference between the closing price of a financial instrument on the Chicago Mercantile Exchange (CME) and the opening price the next day. These gaps are created as traders can try to take advantage of the difference. bitcoin pricecould potentially affect
Koinfinans.com As we reported, the legendary trader pointed out two important unfilled gaps at the $19,000 level in a tweet. The trader encouraged excited investors to short BTC. This indicates that Brandt believes the price of the digital asset has the potential to fall in the short term.
Despite the extreme optimism caused by the recent surge in Bitcoin’s price, some experts remain skeptical about the ability of digital assets to prolong the price rally. As the cryptocurrency market continues to experience volatility and uncertainty, traders and investors should be cautious when making predictions and placing bets.
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