Speaking in a March 26 interview at Real Vision’s Crypto Gathering, Brandt predicted that Bitcoin could appreciate over 250% during the current bull cycle, citing the historic price action of BTC . The trading veteran has highlighted Bitcoin’s logarithmic charts, which are starting to reflect the bull market of 2017.
« I think we’re in that median break where in 2017 Bitcoin swirled for a month or two before seeing the last upward movement, and you’ll notice that the midpoint of the bull market from 2015 to 2017 was around half or 60% of the total move. If that’s true, that indicates the type of price point… That $ 200,000 and up is what this market would take if this graphical interpretation is correct. »
Brandt says the kind of price action we’re seeing is unprecedented:
« If someone had told me that there would be a market in my lifetime that not only experienced one parabolic lead, but experienced four parabolic advances, not just on an arithmetic scale but on a logarithmic scale, I would have bet my life against this. It is simply amazing. People get caught up in the daily movement and the daily moment of Bitcoin without realizing that we are seeing market advance unlike anything we have really seen before. To have four parabolic advances on a logarithmic scale in a ten-year period is unheard of. I challenge anyone to find a price chart of any asset or product that has been through this.
« So we are really witnessing the story. It’s history being made, it’s something that the history books will be written on. As a trader it is just amazing that I can participate in a market that is going through a situation like this. It’s just spectacular, it’s a spectacular race, and anyone involved in Bitcoin can know that they are truly a part of the story.
Brandt also mentioned that he now measures his wealth in BTC rather than fiat:
« My state of mind has really changed. Bitcoin is where I want all of my wealth at any given time. I really see it very differently, because if my goal as a trader was to accumulate more US dollars, what it tells me now is that I had the wrong goal, because my goal was to accumulate the world’s weakest asset, the most. depreciate assets around the world, and that’s in US dollars. So my mindset has really changed over the last year regarding the shift from Bitcoin as a trade to Bitcoin as a measure of wealth. »
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.