Peter Brandt: “These Kind of Predictions Are Nonsense”

Veteran analyst Peter Brandt, known for his Bitcoin predictions, has reacted to the increasing predictions that the Bitcoin price will reach $ 1 million in recent days and argued that such predictions are ridiculous. Balaji Srinivasan, who has close to 836 thousand followers on Twitter recently, made a claim and said that Bitcoin will reach 1 million dollars in 3 months. This very ambitious prediction of Balaji, the former CTO of Coinbase and an American entrepreneur, made quite a stir on Twitter. Famous analyst Peter Brandt was the last to criticize this prediction, finding it absurd.

Veteran analyst Brandt made a comment about a possible return of Bitcoin from current levels. In his last comment, Brandt drew attention to the gap between the Bitcoin price and the BTC price on the Chicago Mercantile Exchange (CME). He warned that a correction could occur in BTC if they decide to open a sell position in Bitcoin as some investors take advantage of this loophole. Peter Brandt said that there are two important unfilled gaps in the CME price, which is currently in the $19,000 band, and this may encourage investors to open a sell position.

It is seen that the measures taken while the crisis in the banking sector continues have not yet satisfied the markets in overcoming the crisis. On the other hand, while the Fed’s rate decision this week is expected to be the most critical decision in recent months, some commentators think that it is necessary to be cautious about Bitcoin’s rapid rise in reaction to traditional markets.