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.

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.

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.

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.