$50,000: Crypto Guru Reveals Dizzying Bitcoin Price Target

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here.
Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here.

The crypto rally has lots more runway ahead, even if the bitcoin price appears stuck. Trader and classical chartist Peter Brandt revealed his bullish prediction of $50,000 for the bitcoin price, which is currently holding steady at $5,000.

Investors must exhibit some patience, however, as it won’t happen overnight. Brandt expects that it will achieve this level over the next two-to-three years based on historical patterns that are resurfacing like a reflection in a mirror.

Bitcoin Price Could Surge to $50,000 by 2021

bitcoin price

Bitcoin continues to test resistance above the $5,000 mark. | Source: CoinMarketCap

There are countless bitcoin predictions out there, so what makes his so special? Unlike much of the other analysis, Brandt presciently called bitcoin’s 2018 destiny in which the leading cryptocurrency shed more than 80% of its value.

He identified a similar pattern in the charts in 2018/2019 that replicate the price movements from the 2013-2015 bear market period, after which time the bull market arrived. Technically speaking, that’s where the bitcoin price is trading today. He told Yahoo Finance:

“We saw sequential 10 up and down moves in the bear market, and we’ve almost identically formed that same sort of pattern. After the 2015 low in bitcoin, we saw the market then developed into a parabolic advance,” said Brandt, adding: “Based on those analog studies, I think crypto now will go back into a parabolic bull market.”

Will the Bitcoin Price Retest 2018 Lows?

While Brandt’s outlook is music to the ears of bitcoin investors, his crystal ball isn’t free of interference. Brandt has questions, too, chief among which based on the “analog year comparison is whether [the] 10a rally will lead to 10b retest similar to 2013-2015,” as depicted in the below chart. In other words, will the bitcoin price rally for a while before retesting late 2018 lows, which was $3,122 on Bitstamp, over the summer before climbing to $50,000?

“There’s a chance that it does and a chance that it doesn’t,” he said in answer to his own question.

Crypto Bull Runs Don’t Wait for Anybody

Whether that parabolic move has begun or bitcoin “takes a break” in the coming months, one thing is clear: the BTC price is headed for $50,000 between now and 2022.

“When bitcoin starts moving, it moves. It doesn’t hold up for everybody to catch a stagecoach,” said Brandt, who expects that bitcoin will leave its previous high of $20,000 in the dust.

Brandt, who has been trading for more than four decades, isn’t concerned with what’s driving the rally, just the “basic underlying demand for the coins themselves.” This is easier said than done, considering the unique nature of the cryptocurrency market whose only basis for comparison is about a decade. This differs from fundamental analysis, like that of Fundstrat’s Tom Lee, which will illuminate the catalysts behind the price moves. Lee is similarly bullish and told CNBC this week that bitcoin’s fair market value is currently $14,000.

Brandt, meanwhile, chalks up this week’s 20% bitcoin rally to good old “more buyers than sellers” – but also more urgency among buyers.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin28,828 0.07 % 2.74 % 5.12 %
Ethereum1,760.9 0.43 % 6.86 % 12.99 %
Tether1.001 0.09 % 0.24 % 0.02 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB302.36 0.10 % 4.04 % 1.71 %
XRP0.3882 0.33 % 2.69 % 7.93 %
Binance USD1.002 0.16 % 0.14 % 0.18 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana42.06 0.61 % 8.99 % 19.63 %
Dogecoin0.08379 5.92 % 4.65 % 3.77 %

Bitcoin (BTC) $ 28,881.00
Ethereum (ETH) $ 1,770.43
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 302.95
XRP (XRP) $ 0.390019
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.461806
Solana (SOL) $ 42.38
Dogecoin (DOGE) $ 0.084133