Experienced trader Peter Brandt, with over half a century of market analysis under his belt, is raising concerns about the current condition within the cryptocurrency market. Despite Bitcoin surpassing the $100,000 milestone and reaching a high of $108,000 in December 2024, Brandt predicts a significant downturn in 2025.
I’ve observed markets for half a century now, and some are poised to thrive moving forward. However, there are far too many who may overleverage themselves, fail to sell at the peak, and suffer significant losses during the next 50% drop in Bitcoin, 90% drop in altcoins, and even a 100% drop in meme-based investments.
— Peter Brandt (@PeterLBrandt) January 6, 2025
According to Brandt, Bitcoin might experience a 50% drop in price, potentially lowering it from its present value around $100,000 to approximately $50,000. He advises that numerous traders, particularly those who have increased their debt during the bull market, could suffer significant losses when the market takes a turn for the worse.
Brandt is sounding an alarm about more than just Bitcoin. He thinks that most altcoins will drop by 90% and meme coins will become worthless. In a tweet, he advised novice traders to be careful as they might take on too much leverage, miss the peak, and suffer significant losses during the correction.
While Brandt is cautious about Bitcoin’s future growth, some experts anticipate a significant surge in its value over time. For example, certain analysts foresee Bitcoin reaching as much as $200,000 by 2026. However, there are others who are less optimistic, estimating that Bitcoin will only see a moderate increase to around $120,000 to $125,000 in the near future.
In a predictable move, he cautioned against excessive enthusiasm, yet disclosed his ownership of both Bitcoin and Solana. However, he’s not optimistic it will replicate Bitcoin’s remarkable growth from its early days. Instead, he playfully discussed his investment in cryptocurrencies rather than delving deeper into the subject. He likened this to reliable stocks such as Kimberly-Clark, known for brands like Kleenex.
Brandt’s communication underscores the potential dangers associated with investing in highly volatile sectors like cryptocurrency. Even though Bitcoin’s recent surge has been exhilarating, Brandt advises investors to avoid excessive borrowing and stay alert for sudden market corrections at any given time. As usual, the crypto market is notorious for its unpredictability, so it’s essential to be ready for rapid changes.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- XRP Price Eyes $2 Support Level Amidst Market Correction
- OREO Unveils Six New Products for 2025
- PYTH PREDICTION. PYTH cryptocurrency
- Google’s Willow Quantum Chip Sparks Bitcoin Security Debate
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- TROTOAR Gallery Bridges Local and Global Art with ‘That’s What’s Up!’
- Russell T Davies Says He “Kind Of Hopes” The Streaming Bubble Will “Pop”
- ‘Brides’ Finds a Distributor in Neon for Latest New Vampire Horror Movie
2025-01-07 11:32