Veteran Trader Predicts 50% Chance of Bitcoin Drop Below $40,000
CryptoNewsTerminal Staff09 Aug, 2024
Veteran Trader Predicts 50% Chance of Bitcoin Drop Below $40,000
Bitcoin Price Prediction: 50% Chance of Drop Below $40,000 Seasoned trader Peter Brandt has issued a warning that there is a significant possibility of Bitcoin's value falling below $40,000 within the next year. He draws parallels between the current price action and a similar pattern observed at the onset of the COVID-19 pandemic in 2020. Brandt's analysis suggests that if the current trend persists, Bitcoin could experience a significant decline. However, he also notes that the longer the support level holds, the higher the likelihood of a positive outcome. Solana vs. Ethereum: A Binary Battle Brandt further commented on the ongoing competition between Solana (SOL) and Ethereum (ETH), suggesting that it is likely to result in a clear winner. He highlights Solana's user-friendliness and strong fundamentals as potential advantages over Ethereum's complexity and higher costs. Based on these observations, Brandt predicts that the SOL/ETH ratio could potentially double in the coming months.
