Peter Brandt, one of the most popular cryptocurrency analysts, tweeted to celebrate the new year of his followers. However, there were claims that Bitcoin’s top and bottom levels were included in the tweet. Due to the low level of the bottom, the analyst upset investors about Bitcoin. Here are the latest comments from the experienced analyst…
Peter Brandt gave a new year message to the Bitcoin community
Veteran trader Peter Brandt gave a new year message to the community before sharing his analysis of Bitcoin, the largest cryptocurrency by market cap. The trader’s sketch of a Christmas tree on an empty Bitcoin chart has received a lot of attention. Many users believe that the senior trader is implying Bitcoin price predictions with the draft.
The base of the tree is below the $10,000 price point of about $9,600, while the decorative star peaks at over $120,000. Comments suggest that users believe this is Brandt’s prediction for Bitcoin’s low and next all-time high, respectively. “Merry Christmas, this means BTC drops to 10,000 and then rises to 120,000,” one user wrote. Another pointed to the $9,600 low.
Analyst detects bearish pattern
It is worth noting that the veteran trader recently spotted a bearish chart pattern forming on the Bitcoin daily chart without setting a price target. Until now, the trader had predicted that a sharp price drop in October would push Bitcoin to the bottom around the $13,000 price point. But weeks later, Brandt indicated that the sharp price drop might not happen. Still, he expressed his optimism, saying that he expects the price to show a downward trend.
Currently, the leading crypto asset is trading at the $16,852 price point, up 0.15% over the past 24 hours. It is trading as much as 60 percent below its closing price of $47,838 on Jan. A few reputable traders continue the downtrend, waiting for the price to drop further. Currently, macroeconomic concerns, consecutive industry booms, and regulatory uncertainty are restraining cryptocurrency prices.
Moreover, cryptocurrencies have re-entered the focus of regulators with the impact of the FTX crisis. for example cryptocoin.com As we have also reported, a statement came from Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), at night. According to the statement, the SEC’s patience is “on the verge of running out” for platforms that continue to victimize investors. Such developments also negatively affect the price of cryptocurrencies. As the largest and oldest cryptocurrency, BTC is the first coin to be affected by such developments.
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