The Analyst Predicted The Collapse Of The Bitcoin Rate By 35%

According to trader Peter Brandt, the first cryptocurrency has not yet dropped to the "bottom" of the correction, the achievement of which is accompanied by panic sales of the asset.
Trader Peter Brandt believes that Bitcoin has not yet bottomed out as part of the current correction. The analyst drew attention to the fact that the correction of the first cryptocurrency always ended after trading with abnormally high volumes due to panic selling of the asset.
During the last sharp drop in the value of bitcoin to $ 42 thousand, which occurred on December 4, such panic selling did not occur. 







According to Brandt, this means that the fall in the asset rate will continue. The “bottom” of the current correction is at the level of $ 30 thousand, the trader said.

Implications of volume
 
 
 





 
 
 
Key bottoms in $BTC have occurred with high volume panic capitulation







That has (yet???) to happen 
Thoughts??? pic.twitter.com/dYmDNADxuP
— Peter Brandt (@PeterLBrandt) December 20, 2021
 
 
 





 
 
 
 





On December 20, Bitcoin is trading at $ 46.5 thousand, and its capitalization is $ 881 billion, according to CoinGecko. 
Over the week, the cryptocurrency has fallen in price by 7%. Over the month, the price of the asset has decreased by more than 20%. On November 10, Bitcoin hit its all-time high above $ 69K.
Last week, Morgan Creek Capital CEO Mark Yusko called bitcoin current price pointless. In his opinion, short-term fluctuations in the rate of the first cryptocurrency do not violate its fundamental prospects. In the next five years, bitcoin will rise in price to $ 250 thousand, Yusko is sure.