Top Crypto Trader Provides Bullish Outlook For Bitcoin

Peter Brandt, a trader who has been in the business for a long time, thinks that Bitcoin (BTC) could reach a new all-time high in two years.

Brandt tells his 692,600 Twitter followers that it is possible for Bitcoin to start a new bull market this year, but nobody really knows what will happen.

“Any idiot can make wild guesses about markets, so here is my dunce-hat prediction. In reality, nobody has a clue what any given market will do.”

If you look at the trader’s chart, it looks like he is drawing out a possible inverse head and shoulders pattern for Bitcoin that could push BTC above $30,000 by the end of the second quarter of this year. Traders look for patterns, and an inverse head and shoulders formation is one of them. It shows that a downtrend may be coming to an end.

Brandt also shows a chart that shows how Bitcoin’s price might change in the long run.

Based on the trader’s chart, Bitcoin could start a new bull market after breaking out of the inverse head and shoulders pattern, heading first to $70,000, then back down to $33,000, and then up to around $175,000 in 2025.

At the time this was written, Bitcoin was worth $21,050. If the king cryptocurrency moves toward Brandt’s long-term goal, it could gain more than 731%.