If we are to believe the words of investment legend Peter Brandt, Bitcoin is currently at a huge turning point. Brandt responded yesterday to an analysis by the Dutch HTL-NL, which published a report on soil structures. It seems that Brandt means that Bitcoin is gearing up for another bull run.
Giant turning point
All Brandt can mean by a gigantic turning point is that Bitcoin starts another bull run from this level. Otherwise you would not speak of a gigantic turning point, especially after the year that Bitcoin will experience in 2022. Bitcoin started that year at around $40,000 and eventually reached a low of $15,500 in November.
The price has now risen again and is flirting with the $ 25,000 mark. Breaking that level is currently proving to be a difficult task for the bulls, but that could soon change in the Bitcoin world. If it is up to Peter Brandt, it is only a matter of time before the price is a lot higher again.
The Dutch analyst
HTL-NL, the Dutch analyst Brandt responded to, compares Bitcoin’s current price action with the start of the 2019 bull run in his post. According to him, we are currently in a bottom structure. In the first half of 2019, the Bitcoin price went upside down three times and a large part of the market was surprised.
Incidentally, Peter Brandt previously predicted the bottom for Bitcoin. On January 30, Brandt spoke of an “extremely rare double walled fulcrum pattern” for Bitcoin. That pattern would lift the price to about $25,500, according to the analyst.
Bitcoin has almost reached that price a few times. If Bitcoin can’t catch that price, a retest of the $15,500 bottom would also be a possibility, according to Brandt.
