Featured image from Forkast News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto expert Peter Brandt has boldly claimed that the Bitcoin top for this market cycle may already be in. He made this conclusion based on his \u201cexponential decay\u201d thesis, which he noted may actually be good for the Bitcoin ecosystem. Why Bitcoin\u2019s Price Has Topped Brandt explained that historical data suggests that Bitcoin\u2019s price has topped. He further alluded to an \u201cexponential decay,\u201d which he noted could be used to describe Bitcoin. Brandt\u2019s exponential decay thesis is based on the fact that Bitcoin\u2019s percentage gain has significantly reduced in every subsequent bull cycle.\u00a0 Related Reading: Ethereum Withdrawals From Exchanges Top 260,000 ETH \u2013 What This Means For Price For context, Bitcoin, according to the crypto expert, recorded a 122x increase from its market low to market high between 2015 and 2017. However, that was only 21.3% of Bitcoin’s price gain in the previous cycle (between 2011 and 2013). Source: X Brandt further noted that the same thing happened between 2018 and 2021. Despite a 22x increase from its market low to market high, Bitcoin only recorded 18% of the price increase it saw in the previous cycle. Having laid this premise, the crypto expert concluded that this market cycle shouldn\u2019t be any different as Bitcoin will likely see about 20% of the price gain recorded in the previous cycle.\u00a0 Taking $15,473 as the market low for this cycle, he noted that 20% of the previous cycle\u2019s gain would mean that the market high for this cycle was supposed to be $72,723, a price level that Bitcoin already hit on its way to a new all-time high (ATH) of $73,750.\u00a0 Meanwhile, the crypto expert acknowledged that Bitcoin historically records its most price gains after the Bitcoin halving, which just recently occurred. However, he added that the crypto community has to deal with the fact of the exponential decay, which has made him believe there is a 25% chance that Bitcoin has already topped this cycle.\u201d Why The Exponential Decay Might Be Bullish For Bitcoin Brandt mentioned that Bitcoin would likely drop to the mid $30,000 or its 2021 lows if it has indeed topped. He, however, added that this decline could be the \u201cmost bullish thing that could happen from a long-term view.\u201d Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges From a \u201cclassical charting point of view,\u201d the crypto expert hinted that Bitcoin was still primed for major parabolic moves to the upside, even though it doesn\u2019t happen now.\u00a0 Source: X He also shared an example of what Bitcoin\u2019s chart could look like when this move happens with the crypto token rallying above $100,000. Brandt also alluded to Gold\u2019s chart from August 2020 to March 2024 as an example of what Bitcoin\u2019s price action could look like soon enough. Interestingly, he recently predicted that Bitcoin will soon be \u201cKing over Gold.\u201d BTC price drops below $63,000 | Source: BTCUSD on Tradingview.com Featured image from Forkast News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605420,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,90232,14690,91847],"class_list":["post-605415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-expert"],"acf":[],"yoast_head":"\n
Expert Says Bitcoin Price Has Topped And Is In Exponential Decay, Why This Is Not A Bad Thing<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n