January 31, 2023

A famous trader said when the price of bitcoin will reach the bottom

The legendary trader and tech analyst Peter Brandt believes that for sustainable growth to new highs in In the region of $ 50 thousand, Bitcoin needs to survive another serious fall.

“First, the bulls must be completely exterminated. When there are no bulls on Twitter, then we will get a good buy signal ”- he summed up.

In his opinion, the bottom of the Bitcoin price is located at the level of $ 5500, but quotes can reach this mark in July next year.

Bitcoin's drop below $ 7000 has also revitalized technology critics. An article was published in Forbes American titled "Bitcoin is falling not because of China, but because you do not need it."

Earlier on Twitter, a fierce debate erupted over whether there is currently a so-called surrender of miners - an instant sale of all the coins mined.

Despite the bearish sentiment in the market, the bitcoin hash has risen to 111.56 EH / s.