Peter Brandt Talks About Bitcoin (BTC): 'Potential Bottom'

The declines in the cryptocurrency market have mobilized economists. The number of officials and investors speaking about many altcoins, especially the cryptocurrency leader Bitcoin (BTC), has started to increase. Famous trader Peter Brandt stated that Bitcoin (BTC) has reached a potential bottom.

According to the analysis announced by successful trader Peter Brandt, Bitcoin (BTC) has finally reached the target of the pattern it has formed since mid-July. Brandt noted that the price performance does not mean that the market should become extremely bullish, nor does it mean that Bitcoin will not fall further. Brandt said the following on the subject: "As the consolidation period comes to an end, the market is seeing a rapid increase in trading volume and volatility, leading to a rise or fall. This made it inevitable that BTC would fall to the July level. The target of the BTC pattern has been reached, meaning that Bitcoin has been moving without looking at the pattern that has been present in the market for the past few weeks. According to institutional net flows, large investors are actively selling their assets, which is also fueling the decline. Source: btchaber The investment information, comments and recommendations contained in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.