Is Bitcoin’s behavior “predictable”?
The more green, the better!
Three years of green followed by one year of red seems to be the trend for Bitcoin. Trader Peter Brandt, who correctly predicted 2018’s correction, believes that this trend will work out in 2023.
And we already see green all over the map. Bitcoin is currently sitting above the $23k mark, with Ethereum sitting above $1.5k. Both of these heavy-hitter assets have witnessed gains of over 18% in the past two weeks. The market could still go either way, but no matter the direction for the next few weeks or months, Intelfin’s algorithms are working hard to outperform the market.
Peter L. Brandt predicts a low for the Bitcoin cycle in his TradingView post.
While Brandt does not explicitly claim that Bitcoin has reached the bottom, he believes that its behavior will be predictable in the future and that it will rise dramatically after the most recent, almost 80% collapse.
When the 2017 parabolic surge was broken in late January 2018, Brandt famously predicted a collapse of 80% in BTC USD. At the time, Brandt referred to it as a “general TA guideline,” and in December of the same year, he finally hit his sub-$4,000 goal.
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