Bitcoin (BTC): Veteran Trader Peter Brandt Says Bitcoin Price Could Go to $27K

Predictions on the evolution of bitcoin (BTC) are many and interesting, especially when they come from well-known people in the cryptocurrency industry. Lately, it is the prediction of Peter Brandt, a veteran in the field of trading that has caught the attention. Indeed, he predicted that the price of BTC could reach $27,000.

Brandt, this highly respected professional

In 1990 Brandt, who has been a commodity trader since 1976, published the book Trading Commodity Futures with Classical Chart Patterns . Then, in 2011, John Wiley and Sons released their second book, Diary of a Professional Commodity Trader , which "became the #1 ranked trading book on Amazon for 27 weeks."

For Raoul Pal, CEO of Real Vision, “Peter is quite simply one of the best and most experienced in trading . Its analytical and purely graphical approach is clear, understandable and usable. Real Vision had the honor of featuring Peter's work and his content remains one of the most discussed and appreciated by our subscribers. I cannot recommend his work highly enough”. Suffice to say that Brandt has the respect of all traders.

Bitcoin, road to the million dollars?

In a tweet posted on April 20, Brandt hinted that there may be further corrections in the price of BTC in the coming days. He even wrote that the price of the cryptocurrency could go down to $27,000 . On March 2, in another widely reported post, Brandt claimed that now is not a very good time to accumulate BTC reserves. According to him, it is better for people to start selling even a part of their stocks so that they can make money before the price of the digital asset drops.

However, this vision of the professional is not shared by everyone. For example, Catherine Wood, the CIO and CEO of ARK Investment Management LLC, claimed that she expects the price of BTC to hit the $1 million mark by 2030 .

Wood said, “As many of you may know, in our 2022 Big Ideas, we have a 2030 price target for BTC of over $1 million per BTC. All we expect over the next eight years is that around two and a half percent of institutional assets will be allocated to bitcoin.”

Will the price of bitcoin (BTC) go down to $27,000 or will it instead increase to near $1 million in 2030? This is the thorny question that has been dividing analysts in the cryptocurrency sector for the past few months. Currently, it is difficult to answer.

Source: CryptoGlobe