Despite six months of rising Bitcoin prices, Peter Brent says up to $ 50,000 cor

[Leviathan.007]

Yesterday, Bitcoin closed its sixth consecutive monthly green candle. This trend had not happened since 2013.
The last time the trend was acted like this, Bitcoin price had a 55% correction, from $140 to $62.
Given that Bitcoin is in the midst of confusing acceptance by institutions and traders, it may be argued that this time things are different. However, Peter Brent believes that Bitcoin can still see a "correction of up to $ 50,000" and made fun of the laser eye campaign:
"I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears."

Source: https://u.today/bitcoin-just-finished-its-sixth-month-in-the-green-but-peter-brandt-warns-about-50000-correction

[20kevin20]

I somehow expect a similar outcome but I'm having mixed feelings due to institutional investors coming out and purchasing BTC massively. I guess BTC will need a correction at some point. And since it's been strongly bullish for a while now, it only seems like the correction is coming closer and closer.

But who the hell knows? And if anything, a correction would only make me purchase more than ever before. I miss those days where weak handed people get out. They're exciting, if you know how to act at the right time.

[tinopener]

That article is quite old.

Brandt is now predicting a rise of 250%


https://www.cryptoglobe.com/latest/2021/03/veteran-analyst-peter-brandt-issues-super-bullish-price-prediction-for-bitcoin/

[NeuroticFish]

"I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears."

Brandt is now predicting a rise of 250%

From what I see... I would not rely much on this guy's predictions
He's just following the trend and adjusting his expectations by that.
Good call with the newer article, @tinopener

[20kevin20]

That article is quite old.

Brandt is now predicting a rise of 250%

His tweet was posted 9hrs ago: https://mobile.twitter.com/PeterLBrandt/status/1377469474232659971

He's predicting a strong bull run, but only after a very strong correction.

[lifeforcepools]

The price will continue to rise, it is already inevitable. The bull run will continue until the end of the summer.

[dothebeats]

Must be an April Fools prediction but seeing most of his tweets regarding crypto and how the younger generation are in too deep with bitcoin, I could sense that he's really serious about it. I could always take these predictions with a grain of salt, although what he's saying is somewhat sensible that a strong correction is indeed necessary before strong pushes are to be made, but not to a degree that it will wipe $50k off the current price of bitcoin. Those institutions who bought thousands of coins would not allow that to happen, and it would need a lot of liquidity to crash the market just like that.

[kryptqnick]

I think there will be a huge correction in the future when the hype settles down a little. Bitcoin makes three steps ahead, but then one or two steps back. I'm fine with such dynamics, and I would honestly be okay to see Bitcoin move down to $20k or something like that. What's important is that Bitcoin remains used and functional, and that it eventually crawls back up no matter how low it falls. Moreover, I believe that the discussions focus too much on the price and too little on important things like Bitcoin adoption, scalability, regulations.

[Dave1]

If we are going to follow his argument as well, if we look at 2013 against 2021, the price should be in the range of $200k++. Then a 55% correction will still be in the ball park of $100k, so not bad as the price is still in the 6 digits.

And that's what past historical logs tell us, we are not yet on the top, and before we see a massive correction, we have to see what will be the ceiling price. And we have a lot of time this year to push the price to 6 digits.

[sunsilk]

He's the same guy that had predicted about bitcoin will reach $100k and we're not even yet reaching that point.

The price will continue to rise, it is already inevitable. The bull run will continue until the end of the summer.

No one actually knows if it will continue up to summer or it will be the endpoint. But most likely that it won't stop there, this bull run looks like not ending any moment from what we're thinking.

[Raflesia]

I think there will be a huge correction in the future when the hype settles down a little. Bitcoin makes three steps ahead, but then one or two steps back. I'm fine with such dynamics, and I would honestly be okay to see Bitcoin move down to $20k or something like that. What's important is that Bitcoin remains used and functional, and that it eventually crawls back up no matter how low it falls. Moreover, I believe that the discussions focus too much on the price and too little on important things like Bitcoin adoption, scalability, regulations.

Bitcoin will still be a good dynamic where corrections will definitely occur after the pumping is done I see this step is indeed happening but regardless of the basis that will be discarded later I think this will be good for me, seeing the stability is quite strong and such a large adoption is not close the possibility of going back to the initial price now, are you sure of a big correction? Of course this will be a good start. In my opinion, it will continue to function as this dynamic should still be applied according to security in the future.
With regulations, nearly 60% of these regulations are almost approved.

[Fortify]

While a correction is definitely possible I doubt we'll see Bitcoin lose $50k for a very long time (decades even). It seems strange to say we're in the "midst of confusing acceptance by institutions and traders", as the more mainstream companies getting involved the greater the widespread acceptance will be over the long term. The rich have finally clocked on that here is an asset which has a finite supply which cannot be inflated away by a self interested governmental monetary policy. It also allows them to move vast sums of money across borders without any sort of interference - whether it is the IRS wanting to ask endless questions or a banking official in Benin asking for their cut to approve a transaction. In a world currently flooded with cheap money, Bitcoin represents a fairly strong asset class that has a limited supply, high demand and some very technologically useful attributes.

[Hippocrypto]

Yesterday, Bitcoin closed its sixth consecutive monthly green candle. This trend had not happened since 2013.
The last time the trend was acted like this, Bitcoin price had a 55% correction, from $140 to $62.
Given that Bitcoin is in the midst of confusing acceptance by institutions and traders, it may be argued that this time things are different. However, Peter Brent believes that Bitcoin can still see a "correction of up to $ 50,000" and made fun of the laser eye campaign:
"I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears."

Source: https://u.today/bitcoin-just-finished-its-sixth-month-in-the-green-but-peter-brandt-warns-about-50000-correction

Even though he predicted that certain figures of correction, bitcoin wouldn't fall too much below $50k. In fact the latest price movement has higher chances that it would bounce even better in the coming days. We still have that fighting spirit to embrace every fluctuations that continually changes everytime our goals will be meet.

[Lanatsa]

From what I see... I would not rely much on this guy's predictions
He's just following the trend and adjusting his expectations by that.
Good call with the newer article, @tinopener

Who does really rely with someone calls like these? Every person does have its own and this isn't something different with those generic speculations that can really be seen around.

with that newer article had posted and such change of views then its already expected for these people to change up their minds basing on the situation they are currently seeing.

$50k correction is somewhat realistic compared into those going back to $10k calls earlier which it typically nonsense at all.We cant really just go back on that low.

[South Park]

Yesterday, Bitcoin closed its sixth consecutive monthly green candle. This trend had not happened since 2013.
The last time the trend was acted like this, Bitcoin price had a 55% correction, from $140 to $62.
Given that Bitcoin is in the midst of confusing acceptance by institutions and traders, it may be argued that this time things are different. However, Peter Brent believes that Bitcoin can still see a "correction of up to $ 50,000" and made fun of the laser eye campaign:
"I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears."

Source: https://u.today/bitcoin-just-finished-its-sixth-month-in-the-green-but-peter-brandt-warns-about-50000-correction

Anyone arguing for that is doing so in bad faith, a crash could come I can agree with that but we are not going to see a 83% correction, we cannot compare the 2013 market to the 2021 market, this can only be done by those that just look at the charts but the charts do not give the full story, now we have so many people adopting and using bitcoin, we have institutional investors and we even have PayPal allowing you to use your cryptocurrencies to buy what you want, a market like that cannot collapse 83% as if it is nothing.

[LUCKMCFLY]

Sometimes the statements of people who have a lot of experience in investment or market specification can be very harsh, it is not that what I say is unreasonable, it is in all possibilities, if you talk about a correction of $ 50k it is very possible, but this It helps to have more measure with our operations, many times what the whales can look for are the so-called bullish traps and many fall, also Bitcoin does not always break the first time, if there is a correction of that style it is necessary to take the necessary forecasts.

This can help to not always believe and do what the news says and all the FOMO that is formed worldwide, sometimes it is necessary to think about all possible scenarios and even the worst of all. Just as it says that a $ 50k correction can occur, a $ 50k bull run may occur, for everything you must be prepared.

[buwaytress]

He might be right after all, but if or because Bitcoin gets a 55% correction after sailing into six figure territory. I highly doubt it stops there though. After 100k pretty confident 150 or 200 would be more than natural...

And then 55% correction from there might appear to be painful but it'll be a shrug of shoulders now that we've experienced 85% losses (Mac 2020 from Dec 2017).

[Slow death]

I think that first we have to try to understand why in the past the price has dropped so much so that we can to compare with the current situation. in the past we had pump and dump so it was normal for the price to increase a lot and then fall a lot, example of 2017 where people simply bought because they were deluded that the market was going on the moon when there was not much demand from institutional investors. nowadays there is more demand from the rich and less people wanting to sell and this is because bitcoin is gaining exposure from big companies like paypal. I doubt that the price has a 50% correction

[Maslate]

I'm expecting a correction as well, look at the market now, it's so bulish and bitcoin started to have some kind of price stagnant, if its still bullish, bitcoin coul have go over $70k after it break the $60k, it seems like the big barrier is in the $60k + level and we will correct and we might witness a big dump.

I know there are investors who does not believe that correction will happen anytime soon but this is just based on my observation also and based on the past trends. No one can predict but at least we are openg for bearish possibilities.

[slapper]

The opening of a new candle always surges. And his assumption has some correct points since we have just closed the March candle. Moreover, it is also the end of Q1 of 2021. During this time, big companies and institutions might think about take a partial profit. Therefore, a 20% reduction in the price of bitcoin is likely to happen without harming the current trend.



This is h1 chart
Source: Binance

Observe the chart, price is currently bouncing in this dangerous area which is acknowledged as the psychology resistance - $60000 zone. The uptrend is currently blocked by the resistance force and big fishes obviously see the same pattern.  Hence, I will not surprise if the price decrease rapidly to $56-57000 before the rally step back in and control the situation