Veteran trader Peter Brandt compares Bitcoin’s current price pattern to the 1970s soybean market, which suggests a potential market peak with a risk of a 50% decline in value.
Bitcoin has dropped by 5.32% over the last month, with analysts highlighting the fourth quarter’s historical bullish trend, yet recent market sentiment is shifting towards extreme fear.
While Brandt foresees a significant correction possibly lowering prices to $60,000, others in the market believe Bitcoin could see a rally, driven by improvements in inflation indicators.
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