Peter Brandt, a well-known expert in technical analysis of the price of investment assets, is confident that changes in the ratio in the Bitcoin pair to the US dollar are now taking place according to the laws of the fourth parabolic growth phase, the very beginning of which can be traced back in 2010. According to the specialist:
“For all the time of my active investment trading, that is, for 45 years, no other asset has ever behaved in this way.
Bitcoin is truly a unique investment asset. ”
As the analyst notes, an important resistance line of 10 thousand dollars has been overcome, and now Bitcoin definitely does not have any hindrances on the way to the mark of 100 thousand dollars. In addition, as Brandt notes, the appearance of an additional zero in the Bitcoin price carries a very important psychological moment, which encourages investors in this cryptocurrency.
Brandt’s positive attitude is supported by other analysts. So, another well-known trader and expert in technical analysis, who writes on the social network Twitter under the nickname Josh Rager, said that overcoming the level of $ 10,700 is also an important sign that Bitcoin will go up significantly. The expert believes that the upper limit of the current rise in the price of cryptocurrency No. 1 is at least 60 thousand dollars, and he considers it wrong if in the current situation of a rise someone tries to exit Bitcoin and take a profit of 10%, since in the end he risks lose income with a return on investment of 500%
He also cites data that indicate that every next Bitcoin price increase cycle was accompanied by the achievement of this crypto-coin at a much higher historical maximum than at the previous stage.