Trader: Bitcoin (BTC) Above $4k Is Dead Cat Bounce, Crypto Still In Strong Downtrend

Meet Peter Brandt

Peter Brandt is likely a name you have heard thrown around in the cryptosphere in recent years. Brandt, for those who are unaware, is a commodity markets trader with decades of experience and, a newfound(ish) Bitcoin (BTC). Although the American trader has taken a liking to the flagship cryptocurrency, nearly one year ago, on January 22nd, Brandt called for BTC to pullback drastically, citing a “general [technical analysis] rule.”

At the time, in a tweet that has since garnered 3,300 likes, the chartist explained that after a parabolic advance in markets, an 80%+ decline in value is expected to occur. By the same token, Brandt traced out an 80% decline for BTC, which would see the blockchain-based asset fall to $3,933.

Now, after Brandt has been lambasted, crucified, and excommunicated for his bear call, his forecast has come to fruition. And this hasn’t gone unnoticed. Trader, analyst, and commentator Infamous, who goes by the Twitter handle…