Veteran Trader Peter Brandt Reveals Big Question for Bitcoin Price: Details
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Veteran trader Peter Brandt recently posed a key question that could shape Bitcoin’s next move. In a tweet, Brandt hinted at a potential shakeout in the Bitcoin market, implying that a final “dump” or extended period of sideways trade might occur before a large rally. “The big question in my mind is whether Bitcoin will get one more dump (or more lengthy congestive chop) before the pump. Remember, markets generally do not sour until retail traders get worn out,” Brandt wrote. The big question in my mind is whether Bitcoin will get one more dump (or more lengthy congestive chop) before the pump.Remember, markets generally do not sour until retail traders get worn out $BTC pic.twitter.com/r2y0paBe4z — Peter Brandt (@PeterLBrandt) January 11, 2025 The veteran trader’s use of the phrase “congestive chop” might refer to a phase of range-bound trading in which prices oscillate within a narrow range, frustrating both bulls and bears. Related Will Bitcoin experience another “dump” or a prolonged consolidation before the next big pump? According to Brandt, the answer lies in the behavior of retail traders. According to Brandt, markets do not “sour” until retail participants lose patience. In the coming days, eyes will be on where Bitcoin trends next as well as the behavior of retail traders. If the answer to Brandt’s…
Filed under: News - @ January 12, 2025 3:14 pm