RATE Group | Bitcoin Under $1K is Possible Warns Veteran Trader Peter Brandt
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Bitcoin Under $1K is Possible Warns Veteran Trader Peter Brandt

13 Mar Bitcoin Under $1K is Possible Warns Veteran Trader Peter Brandt

Posted at 05:09h in Bitcoin News by

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Bitcoin dipped below $4000 today, for the first time since the depths of crypto winter — and one veteran market analyst believes it could have even further to fall.

Crypto markets have been in freefall following the announcement of travel bans yesterday between the U.S. and Europe, and ongoing volatility in all financial markets. 

Veteran trader Peter Brandt — who is famous for correctly predicting the market crash from the all time high — today tweeted an answer that no one wanted to hear in response to an inquiry about the new ‘bottom’ for Bitcoin due to coronavirus.

Brandt said that if he looks at the Bitcoin chart “without bias” the new bottom is potentially “sub-$1,000”. That’s almost 80% below the current price, which is just under $5000,

Brandt is more bullish than bearish

The one time commodities analyst is no crypto skeptic — in fact, he’s often…

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