According to a technical analysis provided by trader Peter Brandt, he predicts that bitcoin will experience an upward trend towards $25,000 followed by a temporary decrease to $17,000. He suggests that this could be followed by a correction period before a strong rally that could drive the price of bitcoin to even higher levels, potentially reaching $30,000
In summary, veteran trader Peter Brandt has stated that he believes bitcoin will trade above $100,000 in less than a few years, but also acknowledges that it is difficult to accurately predict future moves for bitcoin or the cryptocurrency market in general due to a lack of fundamentals. The market currently shows an upward momentum, but some assets may be showing signs of fading momentum, indicating a potential correction. While Brandt's statement is technically accurate, there is no clear analytical method to determine the direction of the cryptocurrency market at the moment.
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