Peter Brandt, a veteran trader known for predicting the 2017 Bitcoin collapse, believes that Bitcoin will eventually surpass stocks and gold as the top asset class. He argues that Bitcoin's correlation to other markets is not important, but rather how those markets correlate with Bitcoin.
Brandt also predicts that US regulators will eventually approve a spot-based Bitcoin exchange-traded fund, but this approval may not have a significant impact on the market. He suggests that Bitcoin is currently in a flag pattern, indicating consolidation before its next upward movement, and is currently trading at $29,322.
All Comments