We’re Still In A Bull Market – Bitcoin (BTC) Is Now In The Parabolic Move
Crypto traders have been witnessing impressive moves of Bitcoin’s price this year.
Back in April, the bulls have returned to the crypto space, and since then, BTC even managed to rally towards $15,000, but it was not able to cross the important level yet.
The crypto suffered a correction which worried some traders and made others buy.
Peter Brandt has just warned crypto traders not to buy more BTC than they are able to handle.
At the moment, the most important crypto in the market is trading in the green and it’s priced at $11,413.72 on CoinMarketCap.
Bitcoin is in the parabolic bull market
During a recent interview, Peter Brandt has doubled down on his claim that BTC is in the parabolic bull market at the moment.
“Just because we had a one or two-day correction, that really doesn’t mean anything. You can go back in the Bitcoin history and find out all kinds of 30 to 50 percent corrections within a bull trend. So I think this thing will work itself out.”
According to UToday, Brandt also addressed his recent tweet in which he said that BTC is a market like no other.
He claimed that this is the only market in which you can see a series of parabolic advances on a log chart.
He also said that people who own BTC should be ready to ride it to zero or if they cannot do this, then they own too much.
The latest BTC-related predictions are still bullish.
For instance, Binance officer Gin Chao said that the company is extremely interested in joining Facebook’s Libra project and he also made a prediction regarding the price for the most important digital asset.
He said that the most important crypto in the market would be entering a new era.
He expects new highs for BTC between $50k and $100k.
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.