Veteran Bitcoin analysts share their price predictions

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.

Rajarshi Mitra Independent Analyst

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.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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