Top Trader Peter Brandt Reveals One of the ‘Easiest’ Bitcoin ATHs He Ever Predicted

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As a researcher with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends, yet none quite as intriguing as the meteoric rise and fall of Bitcoin in 2017-2018. Peter Brandt, a seasoned commodities trading expert, has correctly predicted many significant market tops throughout his career, and his recent comment on Bitcoin’s all-time high (ATH) in 2017 is no exception.

Peter Brandt, an experienced commodities trader, shared his insights on a tweet discussing the significant historical price high that Bitcoin achieved in the year 2017.

A Twitter user, identified as an X user, posted that Brandt was uniquely accurate in forecasting the all-time high for Bitcoin’s market value.

Brandt responded that that all-time high was “of the easiest tops in history to call in real time.”

The Bitcoin top in Dec 2017 was one of the easiest tops in history to call in real time

— Peter Brandt (@PeterLBrandt) November 25, 2024

Bitcoin keeps hitting new ATHs, nearing $100,000

For the past month, Bitcoin has reached multiple new highs at a fast pace. Yet, it continues to advance steadily, with analysts expecting this trend to persist into next year. So far, its latest price peak has nearly touched $100,000.

Michael Saylor, head of MicroStrategy, anticipates that the $100k figure could soon be considered obsolete, possibly by November or even as late as December. In celebration, he is planning a Bitcoin-themed gathering at his home towards the end of December.

According to Samson Mow, CEO of JAN3, who’s a Bitcoin maximalist, the celebration will still occur, regardless of whether Bitcoin stays at its current level without hitting $100,000 or even dips a couple thousand US dollars below.

Bitcoin ATH that changed everything for BTC

As a researcher delving into the world of cryptocurrencies, I found that Bitcoin’s ascent to an all-time high, teetering on the $20,000 mark, represented more than just a price surge – it was a pivotal moment for Bitcoin, the global benchmark cryptocurrency. The first reason this milestone stood out was because it brought Bitcoin into the limelight on a global scale. This monumental price rise, from around $1,300 in April to approximately $8,700 by November, and ultimately to nearly $20,000 in December, thrust Bitcoin into the public eye, making for an unexpected and triumphant debut.

Cryptocurrency gained widespread attention and popularity in the media as well as among the public. This influx led numerous novice investors to join the market. Additionally, a frenzy of speculation occurred, with many people purchasing Bitcoin without fully comprehending blockchain technology. This ignorance fueled a strong fear of missing out (FOMO), which undoubtedly played a significant role in the dramatic price escalation.

One significant influence that propelled Bitcoin higher at that time was the introduction of Bitcoin futures by both the Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE). Despite the onset of what later became known as the “crypto winter” in early 2018, Bitcoin underwent a significant transformation compared to its previous state.

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2024-11-25 12:45