Senior trader and analyst Peter Brandt says that Bitcoin (BTC) may reach an all-time high by the end of next year, but cryptocurrency investors should prepare for a “surge” in the meantime.
In an Oct. 26 post on The third quarter hit a new high.
Anyone who claims to know the future path of any market is a fool. The market always brings surprises.
However, with this disclaimer, I believe:
1. of Bitcoin USD bottom at
2. The new ATH will not be launched until the third quarter of 2024
3. Enjoy a chop feast at the same timeI’ve been using this blueprint for about two years pic.twitter.com/hVt0zbTOsm
— Peter Brandt (@PeterLBrandt) October 25, 2023
However, Brandt was slightly more cautious in his disclaimer, saying the future is never certain and the market “always” surprises.
When User X asked Brandt what he thought of Chainlink (LINK), he didn’t mince words:
“I’m sticking with Bitcoin and won’t be distracted by impostors.”
Brandt, who has been a proprietary trader since 1975, explains that he has been using the above blueprint for nearly two years.
He added in a later post that his favorite Bitcoin price action chart is the weekly Renko chart, which in his opinion reduces many “feints” and has caused only Made five turnovers.
My most trusted Bitcoin chart Bitcoin USD is a weekly Renko chart. There are very few fakes – by my count, only five in the last five years. The latest signal is to buy at 22,000.I allocate part of my Bitcoin investment to this chart
What’s your “go-to” chart? pic.twitter.com/u0sxoSHgT5— Peter Brandt (@PeterLBrandt) October 25, 2023
Bitcoin has recently experienced significant price momentum after months of sideways price movement. Many have predicted Bitcoin’s huge performance in recent months as players closely watch spot Bitcoin exchange-traded funds (ETFs) inch closer to potential approval.
related: BlackRock’s iShares Bitcoin ETF mysteriously disappears from DTCC website, then reappears
On October 23, Bitcoin had its biggest single-day rise in more than a year, briefly surging to the $35,000 mark, and traders expressed interest in Blackrock’s iShares Bitcoin ETF (IBTC), which has been listed on the DTCC website The reports are crazy.
While approval of a spot Bitcoin ETF is not guaranteed, lead Bloomberg ETF analysts James Seyffart and Eric Balchunas said approval is increasingly likely, with an estimated 90% chance of approval by January 10, 2024. %.
I get a lot of questions about my current thoughts on Spot #bitcoin ETFs over the past few weeks.This is the first part of the note I posted yesterday @ericbalciunas.
TLDR: Our views haven’t changed much pic.twitter.com/Htsi3n2XxV
— James Seyff (@JSeyff) October 13, 2023
Meanwhile, Paul Brody, a senior executive at global advisory firm Ernst & Young, said that a large number of institutions are taking a wait-and-see attitude towards Bitcoin, waiting for the approval of spot ETFs as a trigger for buying. .
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