Friday, June 21, 2024

Concerns about a ‘double peak’ have been raised by a trader who predicted the 2017 Bitcoin price drop.

BTC is perhaps one of the most important coins in the whole cryptocurrency market. In fact, all other coins are referred to as altcoins. That’s the significance of Bitcoin for the industry. The recent months have been quite disappointing for BTC investors as the coin has seen massive price drops. Some are even suggesting that BTC price drops are indicative of the whole crypto bubble burst.

The Prediction

Peter Brandt, who made the accurate prediction of the crypto market rise back in 2017, has now posted a very worrisome tweet. According to him, the “bubble” has been popped. On the basis of this, bullish investors should ideally pull out. This is because they’ll be incurring heavy losses for some time. This prediction goes against the advice of many experts who are calling for BTC owners to hold on for dear life. According to them, the situation is bound to improve once businesses pick up in January after the holiday season passes. According to the Factor LLC CEO, BTC was unable to touch its all-time high of 65k dollars after trying for the second time.

A positive outlook

Lukas Enzersdorfer-Konrad, however, has made the assertion that Bitcoin’s drop is similar to the crash it faced in May 2021. According to Bitpanda’s Chief Product Officer, this dip will run its course and be over soon enough. His views ignore all Bearish perspectives and act as a counter to them. Although, due to the volatile nature of the crypto market, only time will tell the future of BTC.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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