Peter Brandt Says the Bitcoin Bull Cycle Will Start in May 2024
Tech analyst and head of Factor LLC Peter Brandt has predicted Bitcoin will return to a bull market in May 2024.
He has calculated that in the past, it took an average of 33 months after the end of the active growth stage to start a new one. He doubts history tends to repeat itself.
Bitcoin hit an all-time high of $69,000 in November 2021. Subsequently, in anticipation of the tightening of the Fed’s policy, the cryptocurrency market entered a bearish stage.
Brandt has previously noted he gave an accurate forecast regarding the price of digital gold in mid-2021. The chart compiled by BitcoinEconomics presents the expectations of many experts in chronological order since 2013. Green indicates those that were implemented before 2020.
The founder of Galaxy Digital, Mike Novogratz, has warned Bitcoin will “take off again” as soon as the Fed takes a break in tightening monetary policy.