As a seasoned analyst with over two decades of market observation under my belt, I find Peter Brandt’s analysis on Bitcoin’s current cycle both insightful and cautionary. His unique approach to measuring cycles and his keen eye for discerning patterns make him an authority in this field.
Peter Brandt has provided some perceptive analysis on the current cycle of Bitcoin, which shows a mixed picture for the digital gold. Brandt is known for making precise market forecasts, and his examination of the Bitcoin cycle is no different.
This analyst begins tracking Bitcoin from its previous market bottom in November 2022 and employs a unique method compared to many other traders for gauging Bitcoin cycles. In his view, the peak of this cycle, which began before the predicted halving in March 2024, has not yet been attained
It’s interesting to note that, when considering inflation, the highest point from the last bull run stays consistent. From Brandt’s examination, we can deduce three primary insights. Initially, there appears to be a noticeable pattern of successively lower peaks and troughs in Bitcoin. This descending trajectory suggests that the force driving Bitcoin to reach new highs has been notably weakened
In a simpler term, I track my cycles differently than others. My cycle begins at the previous bear market’s bottom, which was in November 2022. The peak of this cycle started at the previous low before the halving, specifically in March 2024. Remarkably, this peak hasn’t been surpassed, and even more interestingly, the high from the previous bull cycle, when adjusted for inflation, remains unbroken
— Peter Brandt (@PeterLBrandt) September 3, 2024
The second point made is that the downward trend shows a consistently flattening curve. This pattern indicates a persistent absence of buying interest or drive, which could potentially be concerning for investors anticipating an immediate rebound or record-breaking peaks. To summarize, Brandt highlights that this cycle distinguishes itself from previous ones as Bitcoin has never before taken such a prolonged period to reach a new peak after a halving event
Brandt’s viewpoint aligns with broader market apprehensions. His observation that Bitcoin’s recovery cycle is prolonged might signal more profound structural issues, or it could simply mirror the current macroeconomic situation. Factors such as rising interest rates and global economic volatility play a significant role in determining Bitcoin’s price
As a researcher, I find myself observing a possible prolonged consolidation phase in the Bitcoin market. This is suggested by the recurring series of lower peaks (highs) and troughs (lows). While some remain optimistic about Bitcoin’s future growth potential, Brandt’s analysis offers a cautionary note, hinting that we might not see many more significant peaks in the near future
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2024-09-04 17:56