Veteran futures trader and analyst Peter Brandt has predicted that the price of Bitcoin (BTC) will either stay above $30,000 or fall below the $28,000 levels.
Peter Brandt, who included a chart showing the downward breakdown of Bitcoin’s current channel movement in his post on Twitter on May 2, said that channel breakdowns usually channel width that results in price movements as much as for $32,000 He said he could regress. Peter Brandt also shared your own estimate is 28,000 dollars and this estimate He stated that he was not anti-Bitcoin.
The experienced trader and analyst, in his last post on May 9, stated that the $28,000 level is now considered a downside target, so investors are waiting for two different fundamental movements in the coming days.
Now that $28,000 is considered a bearish target, I have to change my view. The price either stays above $30,000 or declines below $28,000.
Michaël van de Poppe, CEO and founder of Eight Global, said that he has about Bitcoin in a post he shared late on May 8th. There are high buy orders at $34,000. drew attention. Poppe shared a different view from Brandt and said that Bitcoin $34,000 He predicted that it might receive some upside reactions from the levels.
Known as a Bitcoin critic and gold advocate, Peter Schiff, nicknamed the “Golden Bug”, of 6% after the fall on It targeted Bitcoin on May 9. Schiff shared that Bitcoin’s recent drop is a “leading indicator of weakness” in the world’s largest cryptocurrency. Stating that other financial instruments, such as gold, have fallen by only 1% since the Fed increased interest rates, Schiff said. “Gold will rise when investors realize that Fed rate hikes will cause recession but not a significant reduction in inflation.” said.
Bitcoin, which is in a downward trend after the US Federal Reserve started an interest rate hike to reduce inflation in the country’s economy, was held at the Fed’s meeting last week. 50 basis points interest since the increase over 10% experienced a decline.
% in the last 7 days according to CoinGecko data -12.7 value losstofrom Bitcoin (BTC), at the time of writing from $33,642 is being traded.