Peter Brandt, who has nearly 4 decades of trading experience and correctly predicted the 80% price drop in 2018, last month made a prediction that Bitcoin was entering a parabolic trend – and it appears to be happening.
The veteran trader, who has written a book called “The Diary of a Professional Commodities Trader”, tweeted on April 5 about the possibility of a parabolic trend
Either from Dec '18 low or from retest of same (circa analog dbl bottom in 2015) it would not surprise me if $BTC enters a new parabolic phase. $btcusd pic.twitter.com/XV89Qz7P4n
— Peter Brandt (@PeterLBrandt) April 5, 2019
Bitcoin broke past the $6,200 mark and now sits just under $6,300. Now, investors are looking forward to what might be the start of a bull run, a possibility that several experts and analysts have projected, including Fundstrat’s Tom Lee, who has also said that a fair price for bitcoin is roughly $14,800.
Certainly, the signs are looking good for the market as more and more indicators point towards a bull run. Binance has revealed that they are seeing more order numbers than during the peak period of January 2018, while Fundstrat itself believes several technical indicators point towards a bull run.
