Following the epidemic collapse in March 2020, Bitcoin (BTC) rose strongly and by this time the largest cryptocurrency has risen by almost 1.200 percent. Investors seem optimistic that BTC will rise further after its all-time high of $ 64,800. But legendary analyst and trader Peter Brandt warns investors of a possible collapse in Bitcoin.
Peter Brandt warns that Bitcoin and altcoins will see a “very hard correction”!
Bitcoin recently hit an all-time high of $ 64,800. The rise in BTC had a positive impact on the entire market. Some altcoin projects even outperformed BTC. In general, many cryptocurrencies in the market are trading on the uptrend and are recording new highs. However, this momentum in the crypto money market does not seem to deteriorate at all. Investors have similar sentiments, and there is a high belief that the rise in cryptocurrencies will continue with the new ATHs.
However, Peter Brandt, a veteran crypto analyst and a Bitcoin bull, thinks differently on this issue. Peter Brandt has a history of correctly predicting many important price moves in BTC. Peter Brandt states that the rises in the market may end very soon. Peter Brandt suggests that the Bitcoin price will see a “very drastic correction” maybe this month, maybe this year, or maybe this decade. Veteran analyst Brandt therefore urges crypto investors to be more cautious rather than losing with the drunkenness of the bull market.
So who will be the losers in the market? Peter Brandt explains
Successful analyst Peter Brandt also emphasizes that many people will forever lose their legacies, their served and their lifetime savings in this decline scenario, which he says can happen. However, the analyst also notes that those who act cautiously will survive this collapse unscathed. So who will be the losers in the market? Peter Brandt explains this in the following words:
Losers in this process will be those who do not really understand cryptocurrencies and those who cannot suffer and leverage transactions.
Bitcoin, the leading cryptocurrency, is trading at $ 57,910, up 1.6 percent at the time of writing. The flagship of cryptocurrencies currently has a market value of $ 1 trillion. At the time of writing, Bitcoin manages a last 24-hour trading volume of $ 40.1 billion at market capitalization.