Cryptocurrency analyst and trader Peter Brandt, despite the decline in Bitcoin in the last month, believes that BTC will still reach $ 100,000 in the long term.
“I still believe that BTC will reach $ 100,000 in the long term,” – wrote
a trader in response to a tweet from one of the followers.
Formerly Brandt saidthat in the worst case, during the current market correction, the rate of the first cryptocurrency may fall to $ 20,000. This would be a decrease of 69% compared to the maximum set in April this year. However, in the past market cycle, when the bitcoin rate reached $ 20,000, it subsequently fell by 84%.
In April, Brandt predicted that the policies of US President Joe Biden could negatively affect Bitcoin and the entire cryptocurrency market. Considering that the peak of the first cryptocurrency was reached in April and Bitcoin has dropped significantly since then, it is possible that the analyst was right.
This weekend, the rate of the first cryptocurrency dropped a little more. The fall is associated with new tweets by Elon Musk and the fact that the Chinese social network Weibo has blocked more than 20 accounts associated with cryptocurrencies.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
