Legendary Trader Peter Brandt Warns Bitcoin Flashing Bearish Signal That Could Trigger Massive Meltdown – Here’s His Target
Veteran trader Peter Brandt says Bitcoin ( BTC ) may plummet by about 50% from its current value – based on another commodity’s historic pattern.
The legendary trader tells his 816,800 followers on X that Bitcoin may be printing a bearish broadening formation similar to the price of soybeans in 1977.
In technical analysis, a broadening formation is characterized by two diverging trend lines, one rising and one falling, leading to price volatility.
“In 1977 Soybeans formed a broadening top and then declined 50% in value. Bitcoin today is forming a similar pattern. A 50% decline in BTC will put [Strategy] MSTR underwater Whether I am right or wrong, you have to admit this old guy has the gonads to make big calls.”
Source: Peter Brandt/X
Source: Peter Brandt/X
Meanwhile, pseudonymous crypto trader Bluntz tells his 329,900 followers on X that Bitcoin is not done rallying this cycle.
“Same deal with BTC, one more all-time high then top, the current doomers are too early.”
Source: Bluntz/X
Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to exhibit a five-wave rally, with waves one, three and five acting as upward moves and waves two and four serving as corrective periods.
Looking at his chart, the analyst suggests that Bitcoin is forming a fifth wave that may send the flagship crypto asset to about $140,000.
Bitcoin is trading for $108,132 at time of writing, down 4.2% on the day.
Bluntz also believes that Ethereum ( ETH ) will hit new all-time highs this cycle.
“Nice higher low [price] printed on ETH over the weekend, the doomers are a leg too early in my opinion. One more high and then top.”
Source: Bluntz/X
Looking at his chart, the analyst suggests ETH is forming the third wave of a five-wave rally. He predicts ETH will hit a high of about $5,500 before the end of the year.
ETH is trading for $3,841 at time of writing, down 4.6% on the day.
Featured Image: Shutterstock/Zaleman/PurpleRender
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Resilience-Focused Business Strategies: The Role of Challenges in Shaping Entrepreneurs and Organizations
- Adversity-driven founders build resilient enterprises through operational discipline and long-term vision, outperforming peers during economic crises. - Case studies like Nikita Hair and Dyson show hardship fosters innovation, customer focus, and iterative resilience critical for scalability. - 2025 investors prioritize founder-led companies with adversity-fueled cultures, exemplified by Berkshire's $30.8B Q3 earnings and Palantir's 121% revenue growth. - Resilient leadership correlates with 20% higher e
Blockchain-Based Charity Transforms the Impact of Cryptocurrency in Hong Kong Fire Recovery Efforts
- Crypto firms led by Animoca Brands and Bitget raised HK$24.5M for Hong Kong fire victims via blockchain-based donations and stablecoin conversions. - Animoca's EVM/Solana fundraiser ensured 100% transparency by channeling funds directly to Red Cross via platforms like Flip. - Bitget's $12M HKD donation through Yan Chai Hospital and Salvation Army highlighted crypto sector's rapid crisis response capabilities. - The initiative demonstrated blockchain's potential for real-time humanitarian aid while addres
Crypto’s Susceptibility to Quantum Attacks Revealed in North Korea’s $30 Million Breach
- South Korea's Upbit suffered a $30M hack by North Korea's Lazarus Group, exploiting Solana wallets and using multi-chain laundering to convert stolen assets into Ethereum . - Hackers employed "Harvest Now, Decrypt Later" tactics, storing encrypted data for future quantum decryption, raising concerns about current encryption standards. - Dunamu halted transactions and faces potential fines, while the attack coincided with its $10.3B Naver Financial merger, sparking timing scrutiny and regulatory delays. -
Solana News Today: Solana Price Swings and Institutional Trust: $140 Emerges as Key Breakout Trigger
- Solana's price nears $140 threshold as technical indicators and record ETF inflows signal institutional-driven structural shift. - $621M in 21-day ETF inflows highlight growing institutional adoption, contrasting with Bitcoin/Ethereum outflows and positioning Solana as a long-term capital magnet. - Franklin Templeton's pending ETF filing and stable derivatives positioning suggest imminent catalysts could trigger breakout or consolidation. - Market remains in holding pattern with $140 resistance critical
Trending news
MoreCrypto prices
More
