The BTC price could see a rise in the future similar to the rise in stock prices in the 1980s. This opinion is expressed by the famous trader Peter Brandt (729.5 thousand subscribers in X).
Brandt believes that one of the possible reasons for working out a stock fractal on the chart of the first cryptocurrency is the risk of a collapse of fiat currencies. That is, we are talking about the fact that it is not BTC that will rise in price sharply, but that national currencies will depreciate.
In the chart, Brandt looks at the p&P on the price of#BTCin relation to the total supply of money in the US (M1). And this is a very important criterion. An increase in the money supply/emission leads to a depreciation of the national currency.
Quote from Brandt:
“The argument in favor of Bitcoin is related to the possible destruction of fiat currency units (for example, USD).
The graph on the right shows the price of Bitcoin ($BTC) in relation to the total supply of money in the United States (M1). This ratio remains below the December 2017 high. It is interesting to note the similarities in the chart structure with $DJIA during the Great Stagflation of the 1970s.
Some of you will deny that there is a continuation of the inverted head and shoulders - so I will discuss it here. Schabacker (1934) and Edwards and Magee (1948) recognize this model by name. If the identification is good enough for them, then it is good enough for me.”
