- A veteran trader and analyst, Peter Brandt has predicted a drop in Bitcoin, Ethereum and most other altcoins, comparing it to the 2018 crash.
- Brandt became popular in the crypto community with his 80% BTC price drop prediction in 2018.
- Analysts observing a 2018-like bearish structure in the Bitcoin price chart, set a downside target at $27,000.
Peter Brandt is a legendary crypto trader and analyst. Brandt has accurately predicted significant events like the Bitcoin price crash of 2018, and the analyst has observed similar trends in the current market.
Analyst predicts Bitcoin price drop to $27,000 for this reason
Bitcoin, alongside top cryptocurrencies like Ethereum, Cardano, XRP, Solana, Dogecoin and BNB, recently witnessed a correction in prices. According to legendary investor and trader Peter Brandt, this could be more than a price correction.
Brandt rose to fame through his accurate and timely prediction of Bitcoin’s colossal crash in 2018. The analyst predicted BTC’s most significant move, an 80% decline in Bitcoin price.
In a recent tweet, Brandt evaluated Bitcoin’s price structure and highlighted “structural similarities” between BTC’s current trend and on the eve of the 80% drop in 2018. Brandt told his 634,300 followers that the BTC chart is “deja vu all over again.”
"It's Deja Vu all over again"
–Yogi Berra, late 20th Century American philosopher pic.twitter.com/aFch8sx1PA— Peter Brandt (@PeterLBrandt) April 21, 2022