Has Bitcoin Topped Out? Peter Brandt signals the potential end of bull run
In a sobering analysis for cryptocurrency enthusiasts, veteran trader Peter Brandt casts doubt on the continuation of the current Bitcoin (BTC) bull run, suggesting that a possible peak has already been reached with serious retracements potentially on the horizon.
This assessment, deeply rooted in historical price cycle data, presents a grim outlook for the near future of Bitcoin‘s market value.
Historical patterns and exponential decay:-
Brandt’s detailed analysis examines the diminishing momentum seen across Bitcoin’s previous bull cycles. According to Brandt, each cycle since Bitcoin’s inception has experienced a sharp decrease in exponential growth, culminating in what he describes as ‘Exponential Decay’.
Specifically, this indicates that the current cycle’s peak might be capped at around $72,723, a figure briefly touched in March 2024.
The essence of Brandt’s analysis focuses on the “exponential decay” observed in the growth rates from one cycle to the next, where each cycle’s magnitude is roughly 20% of its predecessor.
This suggests an 80% reduction in growth momentum, indicating a cooling off of the aggressive bullish trends previously seen in Bitcoin’s market behavior.
Brandt’s data implies that Bitcoin might have already reached its peak for the current cycle and could see a significant downturn, potentially revisiting the mid-$30,000 range seen in previous lows.
However, he also remains optimistic that such a pullback could set up a future rally, akin to historical patterns observed in the gold market, where after significant corrections, long-term gains followed.
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