In a recent analysis, veteran trader Peter Brandt delved into the price behavior of Bitcoin, suggesting that the cryptocurrency might have reached its peak for the current cycle. According to Brandt, Bitcoin is exhibiting signs of “Exponential Decay,” indicating a weakening in the momentum of its bull market cycles over the years. “Does history make a case that Bitcoin has topped? It’s called Exponential Decay — and it describes Bitcoin,” Brandt wrote. He further explained, “The fact is that the bull market cycles in Bitcoin have lost a tremendous amount of thrust over the years… I don’t like the Exponential Decay occurring in Bitcoin — Bitcoin is one of my personal largest investment positions.” Brandt provided a historical breakdown of Bitcoin’s bull cycles, noting a consistent decrease in the magnitude of gains: The bull cycle from December 21, 2009, to June 6, 2011, demonstrated a staggering 3,191X advance. The subsequent cycle from November 14, 2011, to November 25, 2013, showed a reduced yet impressive 572X advance. The period from August 17, 2015, to December 18, 2017, recorded a further diminished 122X advance. More recently, the cycle from December 10, 2018, to November 8, 2021, saw just a 22X advance. Bitcoin Reached Its Cycle Peak With A Probability Of 25% Drawing on these historical patterns, Brandt extrapolated that the current cycle, which began on November 21, 2022, would likely see an approximate 4.5X gain from its low of $15,473, predicting a potential high near $72,723. Notably, this peak has already been nearly met with a price of $73,835 recorded on March 14, 2024. Brandt underscores this observation with a caution, “The magnitude of each bull cycle has been roughly 20% of its predecessor, indicating significant energy loss.” Related Reading: Bitcoin Whale Activity Declining – Why A Turnaround Is Important In his analysis, Brandt does not shy away from addressing the implications of Bitcoin’s halving events, which have historically been catalysts for substantial price increases. Despite this, he emphasizes the undeniable presence of the decay pattern: “But for now, we need to deal with the fact of Exponential Decay. It has happened. It is real. You may not want to believe it, but I place a 25% chance that Bitcoin has already topped for this cycle.” In a communication on X, Brandt responded to a counter analysis by fellow analyst @Giovann35084111, who argued that Bitcoin follows a power law over time, suggesting the potential for ongoing growth despite the observed decay. Brandt acknowledged the validity. “Quite a thorough analysis,” Brand commented. Quite a thorough analysis https://t.co/hiSogUtEkt — Peter Brandt (@PeterLBrandt) April 29, 2024 Related Reading: Timing The Breakout: When Will Bitcoin Escape The Post-Halving Consolidation? @Giovann35084111’s analysis extends beyond cyclical trends by illustrating how deviations from the power law at specific intervals, particularly around halving events, provide a structured prediction model. This approach projects systematic patterns in Bitcoin’s price movements, reinforcing a bullish outlook. The analyst predicts a significant rise in Bitcoin’s price, estimating the next top at the end of 2025 to reach between $210,000 and $250,000. In a later post, Brandt emphasized that his main prediction is an ongoing bull market into September/October 2025. He explained, “I give more credence to a report I issued in February. Here is a chart from that analysis — projecting a bull market until Sep/Oct 2025,” indicating that his views are influenced by evolving market data and theoretical models. At press time, BTC traded at $62,450. Featured image created with DALL·E, chart from TradingView.com
read more
New Trend in the Crypto Market: The Surprise Coin Next to Solana and Ethereum
For those new to the world of cryptocurrency, Solana and Ethereum are frequently the beginning points. As of late, a new meme token named Furrever Token has entered the highlight. This article gives an overview of these three cryptocurrencies and highlights what makes Furrever Token unique. Solana’s Price Surge: Bullish Trends Push SOL Towards $200 The post New Trend in the Crypto Market: The Surprise Coin Next to Solana and Ethereum appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
read more
President Biden Vetoes Bill That Would Have Eliminated Controversial SEC Crypto Policy
President Biden has followed through on a promise to veto SEC-related crypto legislation that recently passed the House and Senate. The bill would have reversed guidance from the SEC that says certain companies should label crypto assets as liabilities on their balance sheet, even if they are simply holding the assets on behalf of customers. The post President Biden Vetoes Bill That Would Have Eliminated Controversial SEC Crypto Policy appeared first on The Daily Hodl .
read more
Crypto Exchange DMM Bitcoin Vows To Repay Users After $300M Hack
Japanese cryptocurrency exchange DMM Bitcoin confirmed on Friday that it lost more than $300 million in Bitcoin (BTC) in an “unauthorized leak.” The exchange said it would reimburse users in full for losses resulting from the hack. Also read: Mt. Gox Wallets Transfer $10B in BTC to Unknown Address In a blog post, DMM Bitcoin
read more
Pepe Whale (PEPEWHALE) Coin Will Rally 14,000% Ahead of KuCoin Listing, While Shiba Inu, Bonk and Dogecoin Lag
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Pepe Whale (PEPEWHALE) presents a similar opportunity for a limited time. Pepe Whale (PEPEWHALE), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token. PEPEWHALE will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will
read more
Breaking! Binance Ex-CEO Changpeng Zhao Imprisoned in California
The post Breaking! Binance Ex-CEO Changpeng Zhao Imprisoned in California appeared first on Coinpedia Fintech News As per CNBC Reports, Binance Ex-CEO Changpeng Zhao has been imprisoned in Lompoc, California. The News was confirmed by his defense team at Latham & Watkins. In April, the United States federal court in Seattle sentenced Changpeng Zhao to four months after he pleaded guilty to violating money laundering laws. The former CEO of Binance …
read more