Peter Brandt, an experienced trader, predicts a breakout in Bitcoin's price chart compared to the M1 money supply, a first since 2017. Brandt, who anticipates the downfall of fiat currencies, draws similarities between Bitcoin and the total U.S. money stock. He likens the current situation to the DJIA during the 1970s stagflation era. Brandt spots an inverted head and shoulders pattern in Bitcoin's performance, suggesting a potential trend reversal and bullish momentum. Despite doubts, his analysis is backed by evidence and could signify a broader shift in the monetary landscape. Bitcoin is currently valued at $67,722, with experts projecting a significant increase as people transition from traditional currencies to Bitcoin. The Mt. Gox Bitcoin distribution is not expected to have a major impact on BTC's price. Brandt's insights point towards a potentially groundbreaking development in the cryptocurrency market.
Summary: Peter Brandt predicts major Bitcoin breakout.
Experienced trader Peter Brandt predicts a breakout in Bitcoin's price chart compared to the M1 money supply, a first since 2017. He sees similarities between Bitcoin and the total U.S. money stock, drawing parallels to the 1970s DJIA's stagflation era. Brandt identifies an inverted head and shoulders pattern in Bitcoin's performance, suggesting a trend reversal and bullish momentum. His analysis could signal a broader shift in the monetary landscape, with Bitcoin currently valued at $67,722. Brandt's insights point toward a potentially significant development in the cryptocurrency market.
Source: Veteran Trader Peter Brandt Makes Sensational Bitcoin Fiat Argument
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