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This Bitcoin analyst says the Bitcoin price could surge as high as $50,000, but investors must stomach a nauseating purge first.
Nevertheless, Peter Brandt says that bitcoin bulls will likely face an even worse scenario, at least in the short-term.
The analyst predicts a move below $6,000, which would usher in an extended bear winter.
Even though bitcoin’s fundamentals have been making numerous advancements, Brandt says that a strong buy signal would only come once the Crypto Twitter bulls have all but disappeared.
A thorough cleansing might be required to jumpstart a full-blown bull market. Once the nightmare is over, Brandt expects that the Bitcoin (BTC) price would be ready to soar to $50,000.
Bitcoin’s Macro Outlook is Insanely Bullish, But BTC May First Visit Sub-$5,000
Bitcoin has been facing intense volatility over the past month, which first began when it incurred an explosive rally that sent it from $7,300 to highs of $10,600.
In the time since this occurred, BTC’s bears have been firmly in control, erasing nearly all of the gains that were produced in this rally.
In the short-term, analysts are noting that it seems nearly inevitable that BTC will dip below $5,000, but the long-term outlook still looks incredibly bullish, with one industry insider saying it is all but guaranteed that Bitcoin will eventually see $100,000.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
I think you are correct — in terms of price anyway. My target of $5,500 is not far below today’s low. But I think the surprise might be in the duration and nature of market. I am thinking about a low in July 2020. That will wear out bulls quicker than a price correction.
— Peter Brandt (@PeterLBrandt) November 23, 2019
For those of you who can only see the dirt on my screen, here is a clean screenshot of Bitcoin’s head-and-shoulders top. The picture really doesn’t look any better if your long Bitcoin! pic.twitter.com/hXxCYMvu1R
— Peter Schiff (@PeterSchiff) November 21, 2019
https://www.ccn.com/bitcoin-price-will-rip-to-50000-but-only-after-a-nauseating-purge/
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Bitcoin’s Symphony: Bobby Lee, Crypto Veteran, Anticipates Big ‘Crescendo’ in Super Bull Market Top
In the ever-dynamic world of cryptocurrency, Bitcoin continues to be a focal point of discussion and speculation. The latest headline-making statement comes from none other than Bobby Lee, a prominent figure in the crypto space, who suggests that Bitcoin has yet to experience the grand ‘crescendo’ that signifies the top of a super bull market.
Bobby Lee, a seasoned veteran in the cryptocurrency industry, has long been known for his insights and predictions. In this latest revelation, he points to the notion that the cryptocurrency market, particularly Bitcoin, has not yet witnessed the climax of a ‘crescendo’ moment that typically characterizes the peak of a super bull market.
The article in question delves into Bobby Lee’s perspective, hinting at the possibility of a more significant and awe-inspiring phase for Bitcoin on the horizon. The term ‘crescendo’ invokes imagery of a grand musical climax, a moment of heightened intensity and culmination. In the context of Bitcoin, this could imply that the cryptocurrency has more room for growth and transformative moments that are yet to unfold.
Lee’s statement sparks intrigue among investors and enthusiasts, raising questions about what might constitute this elusive ‘crescendo’ in the world of Bitcoin. As the cryptocurrency market is known for its unpredictability, such comments from industry veterans add a layer of anticipation to the ongoing narrative of Bitcoin’s evolution.
For those closely following the trajectory of Bitcoin, Lee’s perspective may fuel speculation about potential catalysts or events that could contribute to the much-anticipated ‘crescendo.’ Whether it involves broader institutional adoption, regulatory developments, technological breakthroughs, or other unforeseen factors, the crypto community remains on the lookout for signals that could mark the zenith of a super bull market.
As with any market predictions, it’s crucial for investors to approach these insights with a balanced perspective. While Bobby Lee’s experience and track record lend credibility to his statements, the cryptocurrency landscape is complex, and multiple variables can influence its trajectory.
In the symphony of Bitcoin’s journey, Bobby Lee’s suggestion of an impending ‘crescendo’ adds a new note of excitement. As the crypto community eagerly awaits the next movements in the market, all eyes will be on Bitcoin to see whether it can indeed reach new heights and deliver the crescendo that Bobby Lee envisions.
