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April 07, 2019, 12:03:10 AM

Trader (Peter Brandt) Who Predicted Bitcoin’s 84% Decline Set a $50,000 Price Target

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Speaking on Yahoo Finance YFI PM Brandt, the founder of Factor Research and Trading, revealed he believes “charts reflect underlying supply and demand fundamentals and that’s how we have to look at it,” and added that he sees similarities between last year’s bear market and that of 2013-2015.

What’s happened from December of 2017 to 2018 is really an analog to what happened in the 2013 to 2015 bear market, where we saw sequential 10 up-and-down moves in the bear market and we’ve almost identically formed that same sort of pattern.

The trading veteran pointed out that he sees “the analogs are holding remarkably well,” and based on them believes the flagship cryptocurrency will go “back into a parabolic bull market.” Whether we’ll see BTC rise now and revisit 2018’s lows in the summer or not is a question he’s facing, he noted.

Good 'ol Parabolic Pete with the hopium!