Brandt wishes his followers a merry Christmas, but his Christmas tree sketch gives investors pause for thought.
In a tweet on Thursday, veteran trader Peter Brandt sent out Christmas wishes to his over 690k Twitter followers.
That's it for me until next week. Merry Christmas.
Isaiah 9.6 pic.twitter.com/Mc4dptfaWE
— Peter Brandt (@PeterLBrandt) December 22, 2022
However, the trader’s sketch of a Christmas tree on an empty Bitcoin chart has piqued significant interest. Many users believe that the veteran trader hints at his Bitcoin price predictions with the sketch.
The tree’s base is below the $10k price point at about $9,600, while the decorative star peaks above $120,000. Comments show users believe this is Brandt’s prediction for Bitcoin’s bottom and next all-time high, respectively.
“Merry Christmas, thats mean btc it’s go down to 10k then we land on the star at 120k ath,” one user wrote.
“9.6k got it ser,” another commented.
It bears mentioning that most recently, the veteran trader spotted a bearish chart pattern forming on the Bitcoin daily chart without identifying a price target.
Before now, the trader had predicted in October that a steep price drop would take Bitcoin to its bottom around the $13k price point. However, weeks later, Brandt expressed optimism, saying the steep price drop may not happen but still expects the price to trend lower.
At press time, the leading crypto asset is trading at the $16,852 price point, up 0.15% in the last 24 hours. It is trading over 60% below its closing price of $47,838 on January 1, despite predictions that investors will see a run-up to the $100k price point in 2022.
Several respected traders remain bearish, expecting the price to drop significantly lower still. Presently, macroeconomic concerns, consecutive industry blow-ups, and regulatory uncertainty constrain digital asset prices.