Analyst Peter Brandt predicts bitcoin to fall to $13 000 before a new all-time high
According to the expert, in the next 10 years, the first cryptocurrency will become the “ultimate store of value”
25.10.2022 - 10:05
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What’s new? Analyst Peter Brandt said that bitcoin will reach a new all-time high (ATH) in about 32 months, but first, it will fall to $13 000. The expert believes that the first cryptocurrency will reach this mark in early 2023, and in the next year and a half will not show impressive indicators, reports CoinDesk. As of October 25, 09:40 UTC, BTC is trading at $19 277, down by 0,3% in 24 hours, according to Binance.
What else did the analyst add? According to Brandt, the US Federal Reserve System (Fed) is not going to ease monetary policy. He suggests that the regulator will raise the interest rate by another 75 basis points at least twice before the end of 2022 in order to combat inflation.
Nevertheless, the analyst expects that the value of the first cryptocurrency will no longer depend on other markets.
“Bitcoin is going to be correlated with bitcoin eventually,” Brandt explained.
The expert also noted that the cryptocurrency will become the “ultimate store of value” in the next 10 years.
Peter Brandt has been working in the financial markets for more than 40 years, he is the creator of Factor Trading, a service that provides expert reports and analysis of asset value charts. Brandt has repeatedly noted that bitcoin makes up one of the largest parts of his investment portfolio.
According to the October survey by Finder, a financial services company, analysts expect the price of BTC to reach $270 722 by 2030. Also, in their opinion, by the end of this year, the first cryptocurrency will be trading at $21 344.
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