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04/11/25 15:29 UTC-04

Peter Brandt Believes Bitcoin Won’t Fall Below $60,000

Veteran trader Peter Brandt believes that even in the event of a prolonged bear market, Bitcoin’s price will not drop below $60,000.

Technical analyst JDK Analysis published a BTC price chart illustrating four-year market cycles and asked Brandt how low the asset could fall if the peak of the bull market has already passed.

“To the upper boundary of the green zone — around $60,000. I hope you’re right that the price top hasn’t been reached yet,” Peter replied.

The analyst questioned the hypothesis that the bull rally has ended, noting that BTC’s price hasn’t reached the lower boundary of the red zone, which lies near $217,742. In October, Bitcoin’s price declined after reaching a new all-time high of $126,272. Thus, the coin would have needed to rise by at least another 72% to mirror previous market patterns.

Nevertheless, JDK Analysis admits the possibility of an early end to the bullish trend. He said he would capitulate and acknowledge the beginning of a long bear market if BTC falls below $95,000. Until then, he remains firmly optimistic about the continuation of the bull rally.

See also: "Michael Saylor: I Know the Reasons Behind Bitcoin’s New Cycle"

#Bitcoin (BTC) #Bearish Trading

Editor: Jerg Wos
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