The world of cryptocurrency has been buzzing with activity as Bitcoin recently hit a new all-time high of $28,000 in March. However, veteran trader Peter Brandt has recently shared his views on the direction of Bitcoin’s price, cautioning that the digital asset may experience another downturn in the near future.
Brandt, who has over four decades of experience in trading, pointed out that the Bitcoin CME chart shows two large gaps, which could indicate a bearish trend. He believes that Bitcoin’s price may need to fall in order to close the gaps before it can rise again.
Despite his warning, Brandt has not confirmed that Bitcoin’s direction is bearish. In fact, he added that not every gap on the graph is always filled, and for now, Bitcoin is still looking promising. The digital asset has continued to bounce back to the same range, giving traders hope.
Brandt’s comments have generated a lot of discussion among cryptocurrency enthusiasts, many of whom are wondering whether Bitcoin will continue to rise or experience a downturn. At the time of writing, Bitcoin’s price has already soared to $28,100, which has left some wondering whether the digital asset will surpass $30,000.
Regardless of what happens in the future, it’s clear that Bitcoin remains a hot topic in the world of finance. Its recent surge in price has attracted a lot of attention, and traders and investors alike are eager to see how the digital asset will perform in the coming months. With experts like Peter Brandt keeping a close eye on the market, it will be interesting to see how Bitcoin’s price evolves in the near future.
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This article was republished from azcoinnews.com
