"Peter Brandt, the renowned trader, endorses a particularly insightful Bitcoin forecast"
In the ever-evolving world of cryptocurrencies, a model developed by an analyst known as "Analyst Colin Talks Crypto" has been making waves. This model, which has accurately predicted major Bitcoin peaks in the past, has recently caught the attention of long-time cryptocurrency analyst, Peter Brandt.
The model uses Tether's market share to predict Bitcoin tops on an inverted log scale. Notable peaks it has accurately predicted include the double peak of 2021, the failed run at $70,000 in 2024, and the push over $100,000 last December. According to Colin's calculations, another touch of the model could occur later this year, potentially placing Bitcoin in the $140,000-$150,000 range around October.
Peter Brandt, who finds the model outstanding and brilliant, will be taking profits on the next touch of the model. However, he argues that the mood is still too muted for this to be the cycle's final top. For now, Brandt cross-checks the signal with sentiment, liquidity, and his broader CBBI index before making his predictions.
The person behind the praised model is none other than PlanB, who also uses other metrics like stock-to-flow ratio and market cycles to determine the next Bitcoin peak. It is unusual for Brandt to publicly praise a local indicator, but he believes that the accuracy of PlanB's model makes it worth mentioning.
Colin's setup goes back about a decade. The model tells when the market looks overheated, providing valuable insights for investors. If Bitcoin hits Colin's October target, the chart could transition from an experiment to a front-page reference. However, the question remains whether Tether dominance can really serve as a market compass.
For those interested in following the model, it's important to note that it does not predict prices but signals timing. As with any investment, it's crucial to do thorough research and consider all factors before making decisions.
In the meantime, there is still room left for Bitcoin to run, according to Brandt. As the cryptocurrency market continues to evolve, it will be interesting to see if the model's predictions hold true. Stay tuned for updates on this intriguing development in the world of cryptocurrencies.
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