Peter Brandt "Bitcoin May Undergo Up to 75% Correction"

Doohyun Hwang

Summary

Peter Brandt reported that Bitcoin shows patterns similar to the 2022 bear market and suggested the possibility of up to a 75% correction.
Brandt stated that if Bitcoin repeats its technical weakness, its price could drop to the $64,000 level.
However, currently, Bitcoin is maintaining its bullish trend, trading around $109,700.

Renowned American crypto (cryptocurrency) trader Peter Brandt indicated the possibility of a major correction, noting that the price movement of Bitcoin (BTC) is showing patterns similar to the 2022 bear market.

On the 10th (local time), Brandt compared the Bitcoin charts of 2022 and now on his X account and posed the question, "Will Bitcoin undergo a 75% correction like in 2022?" He added, "Are you aware that with each bull cycle, there has been exponential decay?"

Brandt also predicted on the 7th that if Bitcoin repeats the technical weakness similar to 2021, the price could fall to the $64,000 level.

However, as of now, the market trend remains bullish. On this day, Bitcoin briefly surpassed $110,000 intraday, continuing its strength. Currently, according to Binance USDT market data, Bitcoin is trading around $109,700, up 0.2% from the previous day.

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