Trade Legend Interprets the Fall in Bitcoin Price: “Just as I Expected”

Bitcoin (BTC), traded at $ 5,808 at the time of writing, fell to $ 5,500 on March 12, suffering a loss of about 25 percent. The drop in price is directly linked to the coronavirus outbreak called “Black Swan”.

Trade legend Peter Brandt said in a response to a follower that he had already said he was expecting such a decline. The legendary trader really predicted that Bitcoin could drop to $ 5,500 in February 2020 before starting a new parabolic run in September 2019.

https://twitter.com/PeterLBrandt/status/1238169233508298752?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer
According to Brandt’s estimate, the biggest cryptocurrency will go up to $ 50,000 after dropping to $ 5,500. On the other hand, trader’s year-end price estimate is $ 100,000.

https://twitter.com/eliasimos/status/1238150548018417664?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer
On the other hand, when looking at the shared charts, it is not clear whether Bitcoin is still in a strong downtrend and whether it will reach the levels predicted by Brandt. The biggest cryptocurrency falling below $ 3,200 is interpreted as the beginning of the end.