Peter Brandt Gave A Date For Bitcoin's Rise

Peter Brandt, one of the world's best-known cryptocurrency analysts, gave a date for the leading cryptocurrency Bitcoin’s rise.

In a recent series of tweets, veteran crypto trader and analyst Peter Brandt claimed that the next Bitcoin bull market will begin in May 2024. The chart expert states that it takes an average of 33 months for the leading cryptocurrency to start another bullish phase after the previous major advances have ended. As unpredictable as its price may seem, Brandt expects the largest cryptocurrency to recreate past bullish and bearish cycles. On the other hand, Bitcoin is currently trading below the $44,000 level on top spot exchanges. Bitcoin's price peaked at $69,000 in November. But then it entered a phase of decline in early 2022. The more aggressive stance of the US Federal Reserve (FED) towards cryptocurrencies is thought to be the main reason behind the drop in BTC. Galaxy Digital CEO Mike Novogratz recently predicted that the Fed will continue to adopt more aggressive policies in the short term. However, he does not expect this trend to continue for long. The CEO of the famous company states that he is confident that Bitcoin can go to the “moon” when the economy falls again. The cryptocurrency trader predicts that for Bitcoin to return to its previous all-time high, it will be necessary to earn 400 percent each time, thereby earning the same coin over and over. However, long-time bull investors such as MicroStrategy CEO Michael Saylor claim that they do not respect traders, arguing that holding Bitcoin will work in the long run.