Analyst Who Got The 2018 Bear Market Right Predicts Bitcoin Could Drop 80% And Return To $ 8,000

The start of 2022 is not being anything positive for the price of Bitcoin (BTC) which has already fallen by about 20% in the year, reaching the $ 40,000 mark and bringing concern to cryptocurrency investors who believed in a new parabolic high that would take BTC above $ 100,000.

However, while some analysts continue to believe that the current bear market is only temporary, the trader Peter Brandt, which was correct in 2018 by predicting a sharp pullback in the price of Bitcoin, which effectively came about taking BTC from a high near $ 20,000 to a low at the $ 3,000 mark.

Brandt points out that the current drop, unlike the others that occurred in 2021, shows that BTC has come out of its parabolic advance and that this could mean a drop of around 80% in the cryptocurrency and therefore this would lead to BTC at the $ 8,000 level.

I saw the violation of the parabolic advance and commented on it in real time to members of @BitcoinLive1 in real time, but in hindsight I might not have taken the event seriously enough USDBTC
We’ll see pic.twitter.com/6Hjvh6fe8v

— Peter Brandt (@PeterLBrandt) January 7, 2022

Who also agrees with Brandt is Jeff Ross, CEO of investment firm Vailshire Capital, who He said that investors in the cryptocurrency market will have a unique opportunity to buy Bitcoins at a very cheap price in the coming months.

Don’t make this mistake

However, a whale of the cryptocurrency market, known as Light, claims that Bitcoin investors who believe Brandt and sell their BTC at the current moment are making a big mistake and will soon be punished with a new high in the largest cryptocurrency on the market.

“I don’t like to talk in deterministic terms, but if you’ve sold here, I think you just sold the fund.”

Kyle Davies, co-founder of cryptocurrency investment firm Three Arrows Capital, share the same sentiment and underlines that the current value of just over $ 40,000 is the minimum for BTC and therefore will not fall beyond this mark

“I have been meditating for three weeks, no Twitter, only prayers. I have seen the future. And it does not include the death of Bitcoin. It rises like the phoenix from the ashes, the bottom of BTC is inside.”

The same optimism is shared by the well-known analyst Michael van de Poppe, which sees signs of a further rise in Bitcoin and highlights that the cryptocurrency is creating a “bullish divergence.”

“The lower value of Bitcoin is creating a bullish divergence while supporting massive support at $ 41,000. If it reaches $ 42,800 – $ 42,900, a test of $ 46,000 is likely to occur and then the bullish divergence will unfold.” , write down

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves risks, you must do your own research when making a decision.

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