There have been many price predictions about Bitcoin, and most of them are really bullish. There’s a popular trader in the crypto space who called for Bitcoin’s big crash in January 2018, and he revealed the vital catalyst of the BTC price.
Peter Brandt said on Twitter that he believes Bitcoin, along with more cryptos, will thrive in the bull territory in the face of the US dollar debasement.
He said: “The devaluation of the purchasing power of the U.S. Dollar DX_F has only just begun. This is why Bitcoin BTC, real estate, U.S. equities and commodities will continue to trend higher when expressed in USD fiat terms.”
Brandt analysis for Bitcoin price
It’s also worth noting the fact that Brandt’s latest analysis comes after the U.S. Senate passed President Biden’s Covid stimulus package to the tune of $1.9 trillion.
Bitcoin bull Anthony Pompliano says the relief package will have a massive impact on the value of the US dollar and Bitcoin.
“Thinking the dollar is stable in purchasing power terms is completely insane. 40% of all dollars in circulation will be created in 12 months after this $1.9 trillion… Purchasing power is drastically down. Compare dollars to stocks, real estate, goods, services, Bitcoin, etc… The US Senate just agreed to reiterate to the world why Bitcoin is important and valuable.”
The devaluation of the purchasing power of the U.S. Dollar $DX_F has only just begun. This is why Bitcoin $BTC, real estate, U.S. equities and commodities will continue to trend higher when expressed in $USD fiat terms. pic.twitter.com/jgYH9bnOgD
— Peter Brandt (@PeterLBrandt) March 7, 2021
It’s also important to note that in the short-term, Brandt believes that Bitcoin is on its way towards a new ATH.
“Two charts to carefully watch in the days ahead. ES_F S&Ps ‘V’-extended bottom. New highs ahead. BTC inverse head and shoulders pattern. New highs ahead.”
At the moment of writing this article, BTC is trading in the green and the coin is priced at