Bitcoin Running Out Of Time? BTC Frightening Prediction
The crypto market looks pretty mixed today with Bitcoin trading in the red and other important coins being traded in the green.
At the moment of writing this article, Bitcoin is trading in the red and the most important coin in the market is priced at $6,145.27.
Despite the enormous volatility of the crypto market, there have been various predictions both optimistic and dark about the price of Bitcoin.
As you probably know by now, Bitcoin is supposed to undergo a halving event which is scheduled for May, and a lot of analysts have been highlighting the fact that following this event, the price for the most important digital asset in the crypto space will be skyrocketing.
The prediction is made based on previous halvings.
Peter Brand drops a new Bitcoin prediction
Peter Brandt has a dark prediction about Bitcoin. He’s known for accurately calling the start of Bitcoin’s 2018 bear market and he said that it will not be long before Bitcoin begins a new bull run or falls to zero.
From May 2019 until February 2020 Brand believed that Bitcoin is in the early stages of a fourth parabolic bull run that would bring the price of BTC to $100k.
This changed this month when the coronavirus pandemic triggered a massive sell-off that caused Bitcoin will fall along with the traditional market.
Brandt said that BTC will likely head to the moon or straight to zero and he now said that there’s a high chance that BTC may drop below $1,000.
Check out his tweet below.
I do not personally think BTC even has that much time to declare itself true or false
— Peter Brandt (@PeterLBrandt) March 26, 2020
Someone commented: “BTC is a brilliant concept from an academic perspective, but of little relevance in practical day-to-day life. In the current situation, I can still buy my food with £, but BTC would have to be converted first before it can be used for anything meaningful.”
Lots of analysts believe that during these difficult times, Bitcoin and crypto will get the chance to show their true potential.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.