Potential Correction Warning for Bitcoin: Peter Brandt Warns Investors!

In an article published in X, Peter Brandt wrote, Bitcoin Discuss the possibility of price retracement after 223% increase took. As a rule in the financial market, bullish waves are often followed by cooling periods.

Historically, Bitcoin price After reaching an All-Time High of $68,789 in November 2021, it dropped by up to 422% to $16,291 in November 2022. According to Brandt’s analysis, the BTC price has experienced a significant decline this year, which has been dubbed the “hump collapse” and “hump dump” movement.

Bitcoin is currently trading at $64,148, up 4.12% on a 24-hour basis. The fact that the price is trading above the 50-day and 200-day Moving Averages emphasizes the strength of the uptrend.

According to Peter Brandt, a possible pullback in Bitcoin price can be considered as a buying opportunity. Despite the volatility, it is thought that the market may experience a correction of 15 – 20%. In this case, a retest of the $55,000 level could be considered a buying opportunity.

As we reported as Koinfinans.com, Brandt had previously predicted that Bitcoin could reach a peak of $200,000 in this bull cycle.

Source : The Crypto Basic

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