Peter Brandt: Bitcoin can always become "parabolic"

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Peter Brandt, a tradesman and experienced technician in the commodities sector, recently went on Twitter, where he said that he would not be surprised that Bitcoin is entering a new parabolic phase.

This 71-year-old veteran trader became one of the first to accurately predict the end of the uptrend in December 2017.

When the bull of 2017 was at its peak, Peter Brandt tweeted this to his 250,000 followers on Twitter:

"General rule of the AT – a violation of the parabolic advance leads to a decline in value of 80% +. If the general rule is followed, BTC should return to <USD 4,000. Note: This Tweet does not make me hateful

"I have seen this kind of thing happen so often in the past and things always end the same way, prices are still going down by 80 to 90 percent," he said.

Brandt's predictions proved accurate at the end of January 2017 and almost since then.

Read more: What can you buy with Bitcoin ?: 2010 vs. 2023

Now, Mr. Brandt said that Bitcoin could be about to experience a parabolic phase, much like the one that BTC experienced before the crypto economic boom in 2017.

It seems that the recent rise in crypto makes Brandt still bullish.

By December 2018, the cryptographic trader was expecting another major drop in Bitcoin, which would stabilize around the price range of 1,200 to 1,200, undoubtedly testing the resolution of any crypto fan.

& # 39; Crypto will not have any friends at this time. Even crypto-hard-hards might start thinking that they're done, "he said.

Sometimes it's good to be wrong, no need to be ashamed.

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