Peter Brandt, a skilled commodities trading expert, has issued comment on a tweet about the important historic price peak reached by Bitcoin back in 2017.
An X user tweeted that Brandt was the only one who was able to predict that crucial-for-Bitcoin record peak correctly.
Brandt responded that that all-time high was one “of the easiest tops in history to call in real time.”
The Bitcoin top in Dec 2017 was one of the easiest tops in history to call in real time https://t.co/gM4xr4FXUi
— Peter Brandt (@PeterLBrandt) November 25, 2024
Bitcoin keeps hitting new ATHs, nearing $100,000
Over the past month, Bitcoin has scored several new all-time peaks rapidly. However, it keeps moving forward unstoppably, and traders are predicting that it will remain so next year as well. So far, the most recent price record has been inches away from $100,000.
The founder of the MicroStrategy giant, Michael Saylor, announced that he expects $100K to become history either in November or December. He has arranged a Bitcoin party at his house at the end of December.
Another Bitcoin maximalist, JAN3 CEO Samson Mow, believes that the party will take place in any case — even if BTC remains as high as it is now without actually reaching $100,000, or even goes down a few thousand U.S. dollars.
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Bitcoin ATH that changed everything for BTC
Bitcoin reaching an all-time high very close to the $20,000 mark was not only a price moonstone but also a turning point for the world’s bellwether cryptocurrency, for several reasons. The first was that at that moment, BTC received its first major global attention. That price surge from roughly $1,300 in April to 8,700 later in November, and finally to roughly $20,000 in December, put Bitcoin into the mainstream view, making it a sudden and successful debut.
Media coverage and public interest in crypto skyrocketed. Many first-time investors entered the market back then. Another reason was the speculative mania that was unleashed, with many investors starting to buy into Bitcoin without having even a basic understanding of the blockchain technology. It caused a significant FOMO surge, which certainly contributed to the crazy price increase.
Another important factor that pushed Bitcoin up then was the launch of Bitcoin futures by the CME and CBOE. Despite the crypto winter that started soon after that in early 2018, Bitcoin became quite a different animal from what it had been before.
