- Popular trader Peter Brandt said Bitcoin could increase ten times in two to three years.
- Brandt also said that Bitcoin may congest if the increase doesn’t happen.
- Bitcoin’s dominance falls over 41%.
According to a recent tweet from a popular futures trader Peter Brandt, Bitcoin (BTC) price could increase ten times in two to three years from now.
On the contrary, the world’s largest cryptocurrency by market capitalization may carry on with its stretch of sideways trend for quite a while, Brandt said.
The futures trader’s latest prediction was posted in response to a tweet posted by long-time Bitcoin advocate Tuur Demeester. He claims that even if Bitcoin has a long-lasting period of consolidation, the top cryptocurrency rallies upwards “like nothing on this planet.”
Last week, Brandt tweeted that before Bitcoin could advance 10X, it would require an average of 33 months. Based on the previous market cycles, if history repeats itself (which Brandt doesn’t believe it will), BTC will skyrocket in May 2024.
Over the past few weeks, Bitcoin has been under pressure. For the first time since mid-March, its market value has dived below the $40,000 level on Monday.
Moreover, the connection between the tech-focused Nasdaq 100 and Bitcoin has reached thus far another record high not long ago. However, traders are bound to exit risky investments due to the increasing fear of the Federal Reserve being hawkish. The U.S. dollar index (DYX) went above 100 before cutting off some gains lately.
Bitcoin is exchanging in eagerness right now along with the other markets. The largest cryptocurrency’s dominance falls over 41%, which means that altcoins are now exceeding the performance of the top cryptocurrency.
At the time of writing, Bitcoin’s market value is at $40,410.22, showing a 1.06% increase in the past 24 hours.
Recommended News :
Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.