- Brandt’s latest Bitcoin chart analysis predicts the beginning of a parabolic move to $100,000.
- According to Brandt, Bitcoin is going through its fourth parabolic phase emanating from 2010.
The renowned trader and analyst Peter Brandt has predicted that Bitcoin is heading for its fourth parabolic phase. Brandt is remembered for accurately predicting the downtrend Bitcoin sunk into last year. In his latest chart, shows that the next move could hit levels close $100,000.
In May this year, Brandt started charting Bitcoin’s potential for growth in 2019. He believes that movements of Bitcoin in the past four months have been positioning the largest crypto for a new long-term cycle to highs.
“Bitcoin takes aim at $100,000 target. BTC/USD is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”
At press time, Bitcoin is trading at $9,770 after making a shallow recovery from last week’s dive towards $9,300. BTC hit an intraday high of $9,802 during the Asian trading hours. The prevailing trend is bearish with Bitcoin likely explore lower levels.
Read more: Bitcoin price prediction: BTC/USD flashing ‘buy’ signals for the next rally - Confluence Detector
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