Peter Brandt has said that he accepts the bullish narratives around cryptocurrencies at this time.
Peter Brandt, a well-known investor and market expert, has disclosed that he is a Bitcoin owner and agrees with most of the current bullish narrative.
I own Bitcoin and accept most of the current bullish narrative
However, we go out on a ledge to assume that $BTC will forever represent the pinnacle of human ingenuity and achievement and that humanity will not surpass its essentials pic.twitter.com/dsy3VjKrlB
— Peter Brandt (@PeterLBrandt) July 21, 2022
He did add that, though; he’ll go out on a limb to suppose that Bitcoin (BTC) will eternally symbolize the peak of human creativity and success and that mankind will not transcend its basics. This is an assumption that he is willing to make.
The veteran trader made a prediction not too long ago, prior to the current negative activity in Bitcoin’s market, that Bitcoin would not reach a new all-time high until early 2024.
How Bitcoin is Doing At the Moment
The cryptocurrency markets have been under intense selling pressure from people and institutions in the past few months, yet the Bitcoin market has shown remarkable resilience during this time.
When compared to the highest point reached during the bull market in 2017, trading volumes have stayed consistently greater during the bear market of 2022. According to CoinGecko, the daily trading volume of Bitcoin achieved a cycle high of $12 billion on December 17, 2017, while the daily volume was over $20 billion in July 2022.
The value of one Bitcoin (BTC) dropped as low as $18.8k during the first three trading days of July. Bitcoin’s price has been climbing consistently over the previous two weeks, particularly during the past week.
Bitcoin came into some resistance at the $24.2k price point, with more opposition waiting for it in the region of $26.7k and $27.1k. The value of one Bitcoin has increased by 13 percent over the previous week, reaching $23.4k at the time of this writing.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.