Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
Data provided by TradingView shows that Bitcoin saw its fifth consecutive day of gains as bulls looked to push toward $20,000 after the close of the traditional markets, hitting a daily high of $19,920 at the time of writing. The increasingly bullish nature of the Bitcoin price action has led many cryptocurrency traders to declare an end to the crypto winter.
Brandt didn’t go so far as to declare that the bottom is definitely in, but said “Bitcoin has been very predictable with multiple X advances followed by 80% declines and multi-quarter consolidations prior to new ATHs and then another multiple X advance.”“I do not expect Bitcoin to run away to the upside, but rather work higher toward late 2023/early to mid 2024 when the ATHs are retested,” Brandt concluded.