Peter Brandt says that “it doesn’t hurt to ask”
It is produced after the recent speculative publication of Brandt in X, questioning whether the Bitcoin (BTC) price action will reflect the severe decrease in 2022.
In November 2021, Bitcoin reached a historical maximum of $ 69,000, only to fall around 76% in the next 12 months, reaching almost $ 16,195 in November 2022, according to Coinmarketcap data.
“Bitcoin $ BTC is after its 2022 script and the configuration for a 75%correction? Brandt said in a publication on Tuesday.
If there was a similar decrease in the current Bitcoin price of $ 107,810, it would fall to around $ 26,000, a level has not been since September 2023.
However, Sinkal argues that circumstances are significantly different now. “The difference in macro foundations between now and 2022 is deep, he said.
“In 2022, we had an economic hangover of the covid era of printing and stimulus. Today’s environment is totally different,” he explained. An August 2021 survey showed that one in ten Americans between 18 and 34 years invested part of his COVID-19 stimulus controls in cryptographic assets.
FTX, the Fed position and other factors impacted the 2021 cycle
Bitcoin’s author and analyst, Andy Edstrom, acknowledged Brandt’s reasoning for correction but disagreeing that it would be so drastic.
“So far it is, but not the magnitude of 75% because the fall between double tops this year was much less serious than in 2021,” Edstrom said.
Edstrom said that the 2021 cycle “was truncated” by the collapse of the FTC, with the exchange of cryptography “did not meet the orders of its customers” and, instead, sold “paper” BTC. ”
Edstrom also attributed the strong decrease in 2021 to the Movement of the United States Federal Reserve towards a more aggressive position.
Speaking to Cointelegraph, Collective Shift’s senior investigation analyst, Simon Amery, said the Federal Reserve began to wind the quantitative Dow flexibility in November 2021, monetary policy now “is directed in the opposite direction.”
Saylor closes any bear call on Bitcoin
Meanwhile, cryptographic analyst Colin talks about Crypto believes that prediction is unlikely, since Bitcoin’s price has not yet reached its maximum point. “The feeling is quite bad for this to be a top. There is no euphoria in the timeline,” he said.
Sinkal said that while any technical analysis is “pointing out a great cyclic washing,” all the evidence you see is that Bitcoin is “sitting at a turning point to facilitate conditions.”
The co -founder of the strategy and Bitcoin Maxi Michael Saylor does not disappear with any possibility of a Bitcoin reduction soon.
“Winter will not return,” Saylor told Bloomberg on Tuesday. “We are adjusted to that phase; if Bitcoin does not go to zero, it goes to $ 1 million.”
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
