Peter Brandt Considers Bitcoin Could Reach $100k During The Next Bull Run

Bitcoin could eventually reach $100,000, the main question is when and how. This is according to Peter Brandt, one of the most respected cryptocurrency analysts in the crypto market. He spoke on this in a recent video released a few days ago.

Peter Brandt Explains How Bitcoin Could Reach $100k

In this explanatory video, he said that Bitcoin is moving towards the $100,000 mark or even further in the long-term. He shared a chart in which Bitcoin is close to the bottom of a multi-year channel and the current bear channel in which Bitcoin is since June 2019 will eventually help the market gather enough strength to move higher.

At the same time, he explained he is not trying to get new signals every single day or week considering he based his analysis on possibilities rather than certainties. If Bitcoin is able to break out from the current bear channel, the next bull phase could start and help the leading digital currency reach a new all-time high.

However, things could not go as planned if Bitcoin continues the current bear trend and if it breaks the multi-year trend. Bitcoin could move down to as low as $5,324 in July 2020. That would mean a price decrease of around 30% from current values.

Nevertheless, he considers that Bitcoin will never go to zero because there will always be interest from the community at any price level. Indeed, the digital currency is currently being traded around $7,615 and it has a valuation of $137.79 billion.

In order to reach these price predictions, he explained that chart analysis is based on fractals. The main advantage of these analysis in the fact that it is possible to identify few opportunities each year with asymmetrical reward-to-risk ratio and in Bitcoin, it is possible to find these opportunities around four to five times a year.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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