Legendary commodities trader Peter Brandt cited his own previous tweet published in 2022 in which he predicted that Bitcoin would not reach a new all-time high until early 2024.
Legendary commodities trader Peter Brandt cited his own previous tweet published in 2022 in which he predicted that Bitcoin would not reach a new all-time high until early 2024.
Brandt has been in the field of commodities trading since the 1970s and is one of the most skilled traders in this field. He often posts charts related to Bitcoin and some other major cryptocurrencies. Meanwhile, Bitcoin has surpassed a whopping $66,000, moving even closer to the 2021 all-time peak.
Brand hints that his bullish prediction was confirmed
Referring to a tweet he posted in mid-June two years ago, Brandt claimed he had completely forgotten about it. In that tweet, the trader shared his expectations that the world’s flagship cryptocurrency would hardly reach a new all-time high until early 2024. However, he noted that “by then we will be in a giant uptrend.”
Brandt was right in his prediction, as Bitcoin has seen a massive rally since the beginning of the year and is already up over 50%. A new all-time high has yet to be reached; However, BTC is in a major uptrend thanks to the Securities and Exchange Commission’s approval of Bitcoin Spot ETFs in mid-January.
“I had forgotten this Tweet “X” about Bitcoin. It just shows that a broken clock is right twice a day,” said Peter Brandt.
Last week he published a Bitcoin chart with monthly candles. Brandt explained that monthly candles can be “take off” or “start” candles and there can also be “finish” or “blow out” candles. He believes that the market is currently witnessing the formation of an “initial” market, which hints that he expects Bitcoin’s rally to continue.
Bitcoin Soars Above $66,000
In the last 24 hours, the leading digital currency showed a rally of more than 8%, breaking out of the $61,530 zone. above $66,000.
Bitcoin’s current growth accounted for approximately 5.41%, which pushed BTC to the $66,450 zone but then took it back to $66,000 where it is exchanging hands at the time of writing.
Overall, in the last week, Bitcoin has shown a mammoth 29% increase, rising from $51,187 to the current level of $66,000.
