Peter Brandt Calls For 80%+ Bitcoin Price Decline Over A Year Ago With Chilling Accuracy

Tony "The Bull" Severino

1 year ago

3 mins read

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Bitcoin price (BTC) has fallen over 80% from its all-time high of $20,000 over the past 14 months, and has struggled to regain any bullish momentum it once had.

While many expected Bitcoin to bottom at the seemingly unbreakable support at $6,000, the leading cryptocurrency by market cap fell through to find its local bottom of $3150. Bulls and bears alike were caught off guard by the sudden violent decline. However one prominent trader was able to predict Bitcoin’s over 80% fall and called for a bottom target of $4,000 or below well over a year ago.

Peter Brandt Makes Bitcoin Bottom Prediction One Year Ago, Nails Target

Peter Brandt is a professional career trader that has traded across a number of markets, asset types and more, seeking to profit off of what patterns he’s able to derive from price charts. The trader follows a simplistic approach, only making a few trades each year on an asset based on the overall price trend and bigger overall picture.

Brandt has earned himself a name as a highly successful trader and a wizard at charting over time, in the cryptocurrency space and outside of it. He’s even joined the likes of crypto influencer Tone Vays and analyst Haejin Lee to power the Bitcoin.Live platform and offer insights to market participants at a premium.

General TA rule — violation of parabolic advance leads to 80%+ decline in value. If general rule is followed, BTC should retrace to <$4,000. Note: This Tweet does not make me a hater. pic.twitter.com/jDNI1osinU

— Peter Brandt (@PeterLBrandt) January 22, 2018

Proving his charting prowess and demonstrating what decades of market experience can provide for an edge, Peter Brandt was able to accurately call for Bitcoin’s over 80% decline from its all-time high price of $20,000. He even added a price target of $4,000 or lower, which closely corresponds with the current trading range.

Has Bitcoin Price Really Bottomed?

In December 2017, fueled by extreme media attention and retail investor FOMO, Bitcoin skyrocketed to nearly $20,000 before its parabolic advance was broken and the historic cryptocurrency bull run of 2017 came to a screeching halt.

In early 2018, the career trader suggested that based on a “general TA rule” on previous parabolic advances being broken, Bitcoin was due for an 80% or more correction. Not only did Brandt nail the percentage decline seen in BTC prices, his call for a bottom target of $4,000 or below was chillingly accurate.

With Bitcoin currently trading between its 2018 low of $3,150 and a recent high of $4,200, many traders are left wondering if Bitcoin has indeed bottomed or if there is more carnage to come for cryptocurrency investors. Markets and price movements are driven heavily by the emotional state of traders and other market participants, and if historical data based on decades of market experience supports calling price declines based on a break of a parabolic advance with such accuracy, it’s also likely that Brandt’s price target for the bottom will be accurate as well.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.