Today seems to continue the trend bust in the prices of Bitcoin, which, analysts continue to make predictions in this respect. In this way, pose your opinion about the present and what we should expect for the year 2020 is approaching quickly. On this occasion we bring you the comments mixed financial expert Peter Brandt.
Contents
Mixed signals
To understand that we mean that prediction has mixed signals with respect to the price of Bitcoin, we should observe the following tweet from their official account:
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
Translating the words of Peter Brandt we obtain the following: “I Think you are right, anyway in terms of price. My goal of $ 5,500 is not is far below the minimum of today. But I think that the surprise could be in the duration and the nature of the market. I’m thinking at a minimum in July 2020. That will wear the bulls faster than a price correction”. In which posits that the price of Bitcoin should remain ranging from $ 5,500 to wear down or reduce the surplus of bulls in the market. Estimated that this will occur in July 2020, for which the following 8 months Bitcoin will manifest a lower price. However, suggests that this subsequently will undergo a process of growth.
Context
The discussion is born out of a discussion on the social networks, therefore, it is observed that the beginning of your tweet is giving the reason to another person. The beginning of the tread is an exhibition situation, by Tuur demeester score, the founder of Adamant Capital. This was the tweet that started it all: “The trend bullish parabolic Bitcoin which began in January of 2015 is still intact. Now almost touch the support again, for the first time since march of 2019. #buythedip”. Show that the upward trend in Bitcoin to long-term level has remained constant, stressing that the recent contraction made tangency with this trend. In terms more colloquial, is stating that the long-term prospects of Bitcoin were kept, and up to now is that the short-term traps. Peter Brandt argued that this situation is associated with an excess of bulls, particularly the social networks. Highlighting that for a stability of Bitcoin, it is necessary to “purge” this excess.
Accuracy
A fear that you have various users is that Peter Brandt tends to match their predictions, at least relatively. In this sense we mean that there may be a slight margin of error, as that it is $5.500, but to $6,000. What do you guys think about the relationship of the market situation and the bulls of Bitcoin?. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.