Veteran trader Peter Brandt has implied in a tweet that bitcoin will go through deep price corrections before it gets to the $200,000 mark. Brandt points to the 2015-17 bull run when bitcoin went through similar corrections about nine times as the precedent the crypto asset might follow.
More Corrections Expected
Consequently, Brandt is asking his Twitter followers to predict the number of similar 30% price corrections that they expect to see before BTC ultimately gets to the $200,000. Already, as Brandt explains in the tweet, the crypto asset has gone through one such correction since the March 2020 price crash.
Nevertheless, since then the crypto asset, whose price grew by more than 300% in 2020, has been on an upward trend. On February 21, the crypto asset set a new all-time high of $58,228, according to Messari data. As a consequence, some bitcoiners now predict that a price of $100,000 can be achieved in 2021.