Crypto trader is issuing his predicitons about the current state of the crypto market.

It’s been just revealed that the trader Peter Brandt addresses the crypto scene after accurately calling Bitcoin’s 2018 collapse. He is now updating his outlook on Bitcoin.

BTC to surge in the near future

Peter Brandt believes BTC appears to be forming an opportune pattern after its sharp bounce from $38,000 to above the $42,000 range.

The investor said that Bitcoin is posting an “intriguing” technical setup.

His analysis shows BTC has now moved above a historic level of support and resistance at $41,757 while posting a higher low after hitting a bottom at around $33,500.

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $39,140.

He also said that BTC is the king of digital assets and that traders who decide to rotate their BTC holding into other cryptos might be kicking themselves in the future.

He also addressed holding Bitcoin and said the following:

“I’m NOT a fan of hodling Bitcoin. Bitcoin has a history of 80% declines, 4 in 11 years A hodler needs 400% each time to return to [all-time highs].”

He said: “I hate having to make the same money over and over and over again. Hard enough the first time.”

Stay tuned for more news and make sure to keep your eyes on the market.

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