Crypto Forecasts & Reality: Bitcoin at USD 50K, Chinese Paying Premium
After Bitcoin broke through USD 5,000 last week, many believe that the crypto market might be out of its winter woods: investors are increasing their holdings, Chinese are buying bitcoin at premium, and a well known trading veteran forecasts bitcoin at USD 50,000 within the next two years.The founder of the blog Factor Research and Trading Peter Brandt, who correctly predicted the bear market of 2018, now draws parallels between two previous rallies. “What’s happened from December of 2017 to 2018 is really an analog to what happened in the 2013 to 2015 bear market, where we saw sequential 10 up-and-down moves in the bear market and we’ve almost identically formed that same sort of pattern,” Brandt told news outlet Yahoo Finance, later adding, “I think the analogs are holding remarkably well and based on those analog studies, I think cryptos now will go back into a parabolic bull market."
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