Crypto Warning And New Bitcoin Bull Run Prediction Issued
As you probably know by now, Bitcoin has been consolidating above $9,000 for almost two months now.
This comes after a horrible drop in price dating back in March, when Bitcoin was trading below $4,000.
At the moment of writing this article, BTC is trading is the green and the king coin is priced at $9,144.01.
New crypto warming issued
Peter Brandt, the trader who is known for predicting Bitcoin’s (BTC) largest market crash in terms of US dollar value back in January of 2018, is now warning crypto investors that they are facing a sharp shakeout ahead.
During a new interview on Crypto Markets Live, Brandt said that it’s easy to think Bitcoin is ripe for a big rally amidst the current global crisis that’s been triggered by the pandemic.
On the other hand, he made sure to highlight the fact that he believes BTC will do the opposite and suffer a major move to the downside.
Bitcoin to see a major drop in price
“The narrative right now is such that it seems like it would be an easy play to say I’m buying Bitcoin. We’ve got a global virus going on. We’ve got a fiat expansion like never before, and that’s a narrative that people would use to say that they’re constructive to Bitcoin, that’s the reason to own Bitcoin. Yet Bitcoin is just kind of lulling people to sleep there…” he said.
He continued and explained that “I’m always trying to think to myself what’s the easiest play? What’s the easiest thing to believe? I think the easiest thing to believe by the noobs is I’m just going to own Bitcoin here, and it’s great to buy, and we’re going to the moon, and there’s no risk to own here, and I’ll buy it here, and it will be at a million dollars before you know it.”
He explained that markets are not making it that easy, and he believes that it’s too easy to believe that BTC needs to be owned there.
He also said that in a few weeks, we’ll see an upside price explosion. We recommend that you check out the complete article posted by the Daily Hodl in order to see what more he had to say.
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Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.