Career commodities trader Peter L. Brandt is now claiming that Bitcoin is putting in a \u201clow for this cycle now,\u201d according to a new TradingView post.<\/p>\n
This call for a bear market bottom is already being met with skepticism, but given the chilling accuracy at which Brandt had made related to his cryptocurrency bets in the past, there could be more validity than investors are ready to accept.<\/p>\n
In a new TradingView post<\/a> currently trending on the charting platform\u2019s editor\u2019s picks section, career commodities trader Peter L. Brandt says that the cycle lows for the crypto market are taking place \u201cnow.\u201d<\/p>\n Although Brandt doesn\u2019t directly state that the bottom is already in, he does believe that Bitcoin\u2019s behavior is \u201cpredictable\u201d and should see a strong advance after the recent, nearly 80% decline.<\/p>\n Brandt famously called<\/a> for an 80% decline in BTCUSD in late January 2018 after the 2017 parabolic advance was violated. Back then, Brandt called it a \u201cgeneral TA rule, eventually nailing his sub-$4,000 target some eleven months later in December of the same year.<\/p>\n\n \u201cI do not expect Bitcoin to run away to the upside, but rather work higher toward late 2023\/early to mid 2024 when the ATHs are retested,\u201d he explained, sharing the chart above to justify the analysis.<\/p>\n The Factor LLCCEO is a classical chartist, and in his TradingView post shares a 6-month timeframe bar chart. Other visual cues aiding his analysis include the largest sell volume ever on the BTCUSD index chart.<\/p>\n Peter L. Brandt has earned himself a polarizing reputation in the cryptocurrency community. The comments section is already taking jabs at the trader with 40 years experience.<\/p>\n According to the CMT Association<\/a>, Brandt founded Factor LLC in 1980, but entered the commodities trading business beginning in 1976 with ContiCommodity Services.<\/p>\n He is also\u00a0published author, releasing the book \u201cDiary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading\u201d in 2011 \u2013 the same year he was named one of the 30 most influential persons in the world of finance by Barry Ritholtz.<\/p>\n Today, Brandt is one of the contributing analysts at Bitcoin.live along with Bob Loukas and other well-known traders.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Career commodities trader Peter L. Brandt is now claiming that Bitcoin is putting in a \u201clow for this cycle now,\u201d according to a new TradingView post.<\/p>\n This call for a bear market bottom is already being met with skepticism, but given the chilling accuracy at which Brandt had made related to his cryptocurrency bets in the past, there could be more validity than investors are ready to accept.<\/p>\n In a new TradingView post<\/a> currently trending on the charting platform\u2019s editor\u2019s picks section, career commodities trader Peter L. Brandt says that the cycle lows for the crypto market are taking place \u201cnow.\u201d<\/p>\n Although Brandt doesn\u2019t directly state that the bottom is already in, he does believe that Bitcoin\u2019s behavior is \u201cpredictable\u201d and should see a strong advance after the recent, nearly 80% decline.<\/p>\nWhat The Career Trader Expects For Bitcoin In 2023 And Beyond<\/h2>\n
Peter L. Brandt TradingView Post Calls For Cycle Low In BTC<\/h2>\n