Rajarshi Mitra
Independent Analyst
- Peter Brandt, who called the 2018 bear market, believes that Bitcoin has entered “a new parabolic phase.”
- Others have predicted price to move up to $6,000 or even $8,400.
Various veteran analysts and traders have shared their Bitcoin price predictions over the last few days. Here is what some of these experts had to say:
Peter Brandt
Peter Brandt has been a trader for over three decades. He has written several books on technical trading such as “The Diary of a Professional Commodities Trader.” In 2018, he made the bold prediction that Bitcoin will drop by over 80% and go below $4,000. Back then, he was heavily ridiculed but has since been vindicated.
However, recently he tweeted that Bitcoin may be about to enter “a new parabolic phase”:
“Either from Dec '18 low or from retest of same (circa analog dbl bottom in 2015) it would not surprise me if $BTC enters a new parabolic phase.”
Crypto Thies
Thies tweeted that he is fairly confident that BTC/USD will come back to $4,700 again but expects the price to go up to as much as $8,400 before it does so. He tweeted:
“-Supports @ $4.7k & $4.3k
-Resistances @ $5.5k, $5.7k, $6.6k,$8.4k-Confident we touch at least $4.7k again but I see an attempt upwards first
-1wk BB Sqz + 2wk candle breaking above midBB suggests macro move to upper BB on 2wk @ $8.4k due in coming weeks.”
Brian Kelly
Kelly, the chief executive of cryptocurrency investment group BKCM, expects BTC to go up to $6,000 since the market is currently undervalued. Kelly told CNBC that “high net-worth individuals, family offices, are starting to take a serious interest.” This, he claims, will drive the price up.
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