U.Today – Peter Brandt's Bitcoin Prediction

Peter Brandt, a veteran trader with over 50 years of experience in financial markets, including the crypto space, has shared an optimistic outlook on Bitcoin (BTC) prices, forecasting significant growth.

Price Analysis

The focus of his analysis is on the seven-month inverted expanding triangle, a crucial technical pattern established since March, which has not been breached. Brandt suggests that this pattern of lower highs and lower lows indicates Bitcoin is primed for a substantial upward movement, potentially reaching $150,000 per BTC.

Brandt's Position

Backing his prediction, Brandt disclosed a significant speculative position in Bitcoin.

Thoughts on Other Cryptocurrencies

Brandt also discussed other major cryptocurrencies, including Ethereum and Solana.

Solana's Potential

He mentioned a potential cup and handle pattern for Solana (SOL) that may suggest an upward breakout, although he remains neutral on the token.

Ethereum's Bullish Pattern

Similarly, Ethereum has shown an inverted head and shoulders pattern, typically a bullish signal. However, Brandt remains cautious and is not currently exposed to Ethereum, often using an unfavorable term to describe it.

Bitcoin vs. Gold

Brandt compared Bitcoin to gold, noting that the inverted head-and-shoulders pattern on the Bitcoin-to-gold ratio chart suggests Bitcoin could increase by more than 400% against gold. He maintains a long position in both the precious metal and cryptocurrency.

This article was originally published on U.Today.