Experienced trader and analyst Peter Brandt predicted a possible uptrend for Bitcoin on April 18, based on the analysis of recurring patterns in market movements.
Brandt’s analysis indicated that Bitcoin prices tend to follow specific recurring patterns, pointing to an upward potential.
Peter Brandt’s Bitcoin Price Prediction Goes Through Three Stages
Experienced trader Peter Brandt analyzed the behavior of Bitcoin in an X post, dividing this asset into three stages. According to Brandt’s analysis, Bitcoin seems to be currently in the “Pump-Dump” phase of the third stage.
Brandt pointed out that the “dump” part of this stage has occurred before the “pump” stage has started, indicating a potential price increase in the near future. This observation came amid a bearish crypto market environment due to geopolitical tensions between Israel and Iran.
Brandt’s observations suggest a potential significant change in BTC price movements. Especially after Israel’s midnight retaliatory attack on Iran, Bitcoin briefly dropped from $63,400 to $59,000 and then rose to $65,000. This sudden price movement also brought gains in other cryptocurrencies, increasing the possibility of an upward trend in altcoins.
In addition, CryptoQuant data shows that large Bitcoin holders, or crypto whales, are buying more cryptos at lower prices during downtrends.
In particular, a transfer of 27,700 BTC worth $1.75 billion to accumulation wallets on 16 and 17 April exceeded the previous record of 25,500 BTC worth approximately $1.6 billion sent to such wallets in March.
In this context, the upcoming Bitcoin halving also strengthens Brandt’s predictions.
The halving aims to reduce the production rate of new Bitcoins by reducing miner rewards, which, in the past, has increased demand and prices.
Peter Brandt’s “Pump” Phase Could Start Soon
Peter Brandt’s optimism about Bitcoin’s price increase appears to be in line with the views of other market experts such as the pseudonymous analyst Rekt Capital.
Rekt Capital, in a post on X, emphasized that the current downtrend in Bitcoin may offer investors an opportunity to buy Bitcoin at low prices after the halving.
In the third stage that Brandt described as “collapse,” Rekt Capital noted that BTC’s price falls before the halving are consistent with similar past cycles.
After the halving event on April 20, Rekt Capital expects a “re-accumulation phase” for Bitcoin and noted that historically, this process has lasted about 385 days.
However, Rekt Capital predicts that current market conditions may shorten this process and potentially cause a rise in Bitcoin prices compared to previous cycles.
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