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Peter Brandt: Bitcoin enters its "fourth parabolic phase" and aims at $ 100,000




Peter Brandt, a recognized technical analyst, claimed that Bitcoin is experiencing its "fourth parabolic phase" after it broke through the $ 10,000 barrier. Now, Brandt says that Bitcoin is aiming for $ 100,000. Yesterday, Bitcoin broke through the $ 10,000 resistance level and has traded in between $ 10,300 – $ 11,200 over the past 24 hours.

  Bitcoin USD on TradingView
Price action in the last 24 hours: BTC / USD chart on TradingView

Now that Bitcoin exceeded the psychological resistance level of $ 10,000, Peter Brandt claims that $ 100,000 is up next for the coin.

According to Brandt, in his 45-year trade he has not "gone parabolic" on a log chart.

  Bitcoin Parabolic Advance
Source: Peter Brandt

Brandt gives another table for coherence, comparing the returns of the BTC against parabolic features of other assets, including Apple, Amazon and Netflix, as well as two references.

In the chart below, the companies are marked beginning on the IPO date, while Bitcoin is adjusted two years after the beginning to count for low volume and unavailability before the emergence of large exchanges.

For reference, Mt. Gox launched crypto trading in July 2010, and before it was the most reliable way to collect large amounts of BTC, to remind it.

Asset Page Year Low High High [19659015] Advance
Bitcoin October 2011 7 $ 2.00 $ 19531 9766 times
Netflix 2002 17 $ 0.35 $ 423 1209 times
Amazon [19659021] 1997 22 $ 1 , 31 $ 2050 1565 Gaiters
Apple 1982 37 $ 0.16 $ 232 1450 Gaiters
DJIA 1903 [19659021] 116 $ 30.88 $ 26,952 873-fold
Gold 1919 100 $ 20.67 $ 1920 93- fold [19659026] Data from: Peter Brandt Factor, LLC

Something to note is this analysis emphasizes investments that deal with a large variety, suggesting high volatility, and Bitcoin is known for its volatility. 19659002] Nevertheless, the return that is being netted by some of these breakout investments is extraordinary. Whether Bitcoin can climb from December 2018, low of $ 3,148 to Brandt's $ 100,000 prediction, a 32-fold increase, remains uncertain.

Bitcoin, now ranked # 1 by market value, is up 0.19% over the last 24 hours. BTC has a market value of $ 190.55B with a 24-hour volume of $ 26.23B.

Chart by CryptoCompare

Bitcoin is up 0.19% over the last 24 hours.

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