Senior trader and analyst Peter Brandt stated that after the market crash in 2009, the price of Bitcoin (BTC) against the US dollar may form a trend similar to gold. As a result, traders speculated that the price of Bitcoin could continue to drop to the level of $60,000 and then trend upwards in the coming quarters.
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The Twitter account Bitcoinsensus also holds a similar view, claiming that after establishing a corrective bottom in the coming weeks, the industry will continue to see growth in the fourth quarter of this year:
The chart of Total3 [all altcoins in the top 125 excluding Ethereum and Bitcoin] has corrected for several weeks, resulting in significant declines for many altcoins. It took 162 weeks in the previous cycle to break the historical high of 2018.
It took 162 weeks in the previous cycle to break the historical high of 2018.
@crypto_dnes
pic.twitter.com/exoChY06dv
— CryptoDnes (@crypto_dnes)
June 18, 2024
