Crypto expert Peter Brandt He boldly claimed that Bitcoin's all-time high in this market cycle may have already arrived. He based this conclusion on his own “exponential decay” theory, noting that it could actually be good for the world. Bitcoin ecosystem.
Why Bitcoin price has gone through the roof
blunt explained Historical data suggests that Bitcoin price has surpassed its all-time high. He also mentioned “exponential decay,” noting that this can be used to explain Bitcoin. Mr. Brandt's exponential decay theory is based on the fact that Bitcoin's appreciation rate has decreased significantly with each subsequent bull cycle.
For context, BitcoinAccording to cryptocurrency experts, it rose 122 times from market low to market high between 2015 and 2017. However, that was only 21.3% of Bitcoin's price increase in the previous cycle (2011-2013).
Source:X
Brandt further pointed out that the same thing happened between 2018 and 2021. Even though Bitcoin rose 22x from market low to market high, it only recorded 18% of the price increase seen in the previous cycle. With this assumption in place, cryptocurrency experts concluded that this market cycle should remain the same: Bitcoin We will probably see around 20% of the price increase recorded in the previous cycle.
He pegs the market low for this cycle at $15,473, and 20% of the previous cycle's rally means the market high for this cycle should be $72,723, adding that Bitcoin is already on its way up. He pointed out that the price level. New all-time high (ATH) $73,750.
On the other hand, cryptocurrency experts believe that Bitcoin recorded its largest price increase in history. Bitcoin halving, something that happened recently. However, he added that the crypto community needs to come to terms with the fact of exponential decline, which is why he believes there is a 25% chance that Bitcoin has already surpassed this cycle. ”
Why exponential decline is bullish for Bitcoin
Mr. Brandt believes that Bitcoin Mid $30,000 If it actually exceeds, it will be the lowest price in 2021. But he added that the latest drop could be “the most bullish thing that could happen over the long term.”
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From a “classical chart perspective”, cryptocurrency expert hinted that Bitcoin is still ready large parabolic movement Even if it's not happening now, it's looking up.
Source: X
He also shared an example of what a Bitcoin chart would look like if this move happened on a crypto token Raise over $100,000. Brandt also mentioned the gold chart from August 2020 to March 2024 as an example of what Bitcoin's price behavior will look like in the near term. Interestingly, he recently predicted Bitcoin will soon become the “king against gold”.
BTC price drops below $63,000 | Source: BTCUSD on Tradingview.com
Featured image from Forkast News, chart from Tradingview.com
