Trader Peter Brandt, who had previously stated that Bitcoin had aimed at $ 100,000, had given a rather disappointing forecast the day before that the BTC market could survive the 80-percent correction.
Earlier, Peter Brandt gave a rather optimistic forecast, stating that the BTC cryptocurrency, breaking the $ 10,000 level, plunged into the fourth parabolic phase, which means that in the future, the BTC rate may reach $ 100,000. After that, when a 30% rollback occurred on the BTC market, Brandt explained that such fluctuations are considered not so serious if we recall the dynamics of cryptocurrency during the parabolic phase in the period from 2015 to 2017. So, volatility around 30% -40% is considered normal for a bull market.
If you’re looking for a month or two minute correction, you can expect a lot more correction. $ BTC Note 2-wk H & S or H & S failure pic.twitter.com/6IF1bHREAv
Peter Brandt (@PeterLBrandt) July 7, 2019
Now Brandt reports in his Twitter blog that if the real BTC parabolic phase is broken, the market can survive a 80% correction 7 months ahead. There is also a possibility that a less significant correction will occur, which implies a transition to a new parabola “with a smaller incline”.
