- Peter Brandt, CEO of Factor LLC, suggests Bitcoin may have peaked.
- Brandt’s revised outlook is based on exponential decay theory.
- Bitcoin’s recent peak at $73,835 on March 14, 2024, aligns with Brandt’s observation.
Factor LLC CEO and popular chart analyst Peter Brandt revised his previously optimistic stance on Bitcoin’s trajectory. Brandt projected a bullish trend, suggesting that it would last until September 2025 and propelling Bitcoin to highs of $200,000. However, he now believes Bitcoin may have already peaked.
Brandt based his revised outlook on “exponential decay,” a statistical pattern referring to the consistent reduction of an amount by a set percentage over time. He observed that “Bitcoin has historically traded within an approximately 4yr bull/bear cycle, often associated with the halving events. There have been three major bull market cycles since the initial bull cycle and each cycle has been 80% less powerful than its predecessor in terms of the price multiple gained.”
Considering this pattern, Brandt argued that Bitcoin’s recent peak of $73,835 on March 14, 2024, fits the expected outcome of exponential decay. Hence, he opined…
The post Chart Analyst Peter Brandt Revises His Stance on Bitcoin’s Trajectory appeared first on Coin Edition.