Bitcoin's Bull Market Cycle Faces Significant Decline, Analyst Predicts

According to BlockBeats, renowned trader and chart analyst Peter Brandt, who accurately predicted the 2018 Bitcoin crash, has recently commented on the current state of Bitcoin's bull market cycle. Brandt noted that the cycle has experienced exponential decay, with Bitcoin's price having risen in a parabolic manner before breaking below the parabola. Historically, such breaks have led to an average decline of 80%. Based on this expected decline, Brandt forecasts that Bitcoin's bottom could be at $25,240. In November, Brandt had previously predicted that Bitcoin might bottom out at $60,000.