The veteran merchant Peter Brandt says that the price of bitcoin to 200,000 dollars is unlikely, here is the reason
Bitcoin price increased marginal today at the level of 97500 dollars, amid the recovery of the broader encryption market. Moreover, the pioneering Crypto touched a weekly increase in the past 24 hours, as it approached the mark of $ 99,000. Amid this renewed interest in the market, many experts hint at the outbreak of BTC. Nevertheless, veteran trader Peter Brandt has participated in a recent contradictory statement, with BTC’s suspicion of $ 200,000 any time soon.
Why Peter Brandt doubts the capabilities of Bitcoin to 200 thousand dollars?
The famous veteran trader, Peter Brandt, recently expressed doubts about the price of bitcoin, which reaches $ 200,000 by the end of the “contract”. Share the BTC price plan on X, stating that BTC will need to penetrate the main resistance to achieve these levels. Brandt explained:
“Unless Bitcoin has the speed of escaping through the upper equivalent resistance line, it is unlikely that BTC is trading above 200 thousand dollars at the end of this contract.”
Meanwhile, his statement contrasts with the increasing optimism between the encryption analysts who expect a significant increase in Bitcoin in the coming years. While some expect BTC to collide with the evaluation of six numbers, Brandt suggests that the main resistance barrier can limit its upscale capabilities.
Brandt is still open to a different approach
Despite his doubts, Peter Brandt admitted another market analysis This supports the biological expectations of BTC. The Crypto ‘Dave The Wave’ analyst shared the drop of the Bitcoin price, highlighting a pattern indicating that BTC can cross the $ 200,000 sign inside this session.
With the participation of the publication, Brandt praised the analysis, describing him that “the supported narration is sports.” This indicates that he is still open to different views, even if he personally questions the BTC ability to maintain a bonus high to the resistance levels.
Bitcoin market morale is still divided
The encryption community is still divided into the capabilities of Bitcoin in the long run. While some analysts expect BTC to exceed $ 200,000 due to the increase in institutional adoption, others argue that market courses may not support this severe growth during this contract.
The continuous BTC has regained discussions about its next step. While Bitcoin hovers near a brand of $ 100,000, investors are closely watching to see if it will break the resistance or face a long standard of unification.
What is the next BTC price?
Bitcoin price today rose more than 0.4 % and exchanged hands at 97,521 dollars, while trading volume decreased by 2 % to $ 30.5 billion. It is worth noting that Crypto may affect a height of 24 hours of $ 98,819.47, indicating a weekly increase of about 1.5 %. Moreover, the open BTC Futures increased by 0.6 %, indicating the renewal of the market morale towards the original.
It is worth noting that the prediction of the BTC price suggests that encryption may hover around the level of 97.5 thousand dollars during this month. Nevertheless, a wave of analysts is still optimistic, hinting towards a possible gathering to $ 106,000 in the near term. Moreover, a recent report highlights that BTC may target the level of 103 thousand dollars, as retailers search beyond the last group of inflation data that are hotter than expected.
For example, Ali Martinez, a higher market expert, said that the price of bitcoin is preparing for the bullish hacking forward, which hints to an increase of 106 thousand dollars soon. Echoing from similar feelings, another Rekt Capital expert indicated that if the encryption is strong than the level of 97,700 dollars, the gathering may extend forward.
Robam Roy
RUPAM is an experienced professional with three years experience in the financial market, where he developed a reputation as an insightful career and journalist. It flourishes to explore the dynamic nuances of the financial scene. It currently acts as a sub -editor in Coingepe, RUPAM experience extends beyond the traditional borders. Its role includes breaking stories, analyzing developments related to the prosecution, providing actual time updates in the encryption market, and providing insightful economic news. Robam’s profession is characterized by a deep passion for the complexity of financing and the presentation of influential stories that resonate with a diverse audience.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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