Peter Brandt has been trending in the cryptocurrency space since he predicted that the price of Bitcoin will hit $50k. Even if many others have made similar predictions in the past, the prediction of this veteran is especially important because he was also the first to predict that Bitcoin will fall by 85% during the cryptocurrency winter.
If you’ve been following up with the Bitcoin price plunge, you’ll see that his prediction came true. So, he has gotten a lot of credibility in the industry.
There have been a lot of Bitcoin price predictions in recent times. First it was the Tom Lee Bitcoin price prediction. This was followed by the Tim Draper Bitcoin price prediction. However, none have generated more FOMO than the most current which is the Peter Brandt Bitcoin price prediction. Revealing his reasons for a positive Bitcoin price forecast, the veteran investors said that Bitcoin will hit $50K soon as reported in the Bitcoin news on The Bitcoinist. Why is this Bitcoin news about the Peter Brandt Bitcoin price prediction so special?
According to him the price of Bitcoin is currently preparing for a parabolic bull run. During an interview with Yahoo Finance, he explained his $50,000 Bitcoin price prediction saying;
“I believe that what’s happened from December of 2017 through December of 2018 is really an analogue to what happened in the 2013 to 2015 bear market, where we saw a sequential 10 up and down move in the bear market. And we’ve almost identically formed that same sort of pattern. After the 2015 low in Bitcoin, we saw the market then developed into a parabolic advance. And so, I think the analogues are holding remarkably well, and based on those analogue studies I think cryptos now will go back into a parabolic bull market.”
Brandt didn’t say this prediction will happen overnight. Rather, he explained that it is going to be over the next two to three years. If this happens, the cryptocurrency industry is going to produce hundreds of thousands of billionaires. Such a bull run isn’t just going to affect the price of Bitcoin. XRP, ETH and other cryptocurrencies will rise accordingly. He continued;
Bitcoin Price Today – BTC / USD
“What we know is, when Bitcoin starts moving, it moves. It doesn’t hold up for everybody to catch the stagecoach. And so, if we start developing some upside momentum, whether we come back down and have a break into the late summer and then start back up or whether we keep going from here, I think we’re going to see a similar parabolic advance. And I think it’s easy to look at that advance exceeding the $20,000 high, or near the $20,000 high we saw in late 2017. I would guess the target’s probably around $50,000.”