Legendary Trader Peter Brandt Asks Bitcoin Bulls Two Difficult Questions

Legendary Trader Peter Brandt Asks Bitcoin Bulls Two Difficult Questions


Legendary crypto trader and technical analyst Peter Brandt is asking Bitcoin bulls two difficult questions.

In a new tweet, Brandt asks his 523,000 followers two things about the historical price action of Bitcoin as the world’s largest crypto by market cap struggles to reclaim $40,000 after a 50% drop.

 

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“Challenge to $BTC price historians
In the past 10 years (since May 2011) please identify a single (even one) instance:
1. When a 50%-plus correction did not lead to at least a 70% correction
2. When a 50%+ correction made a new ATH within 7 months.”

Though the question appears to be unanswerable and could suggest that Bitcoin has more downside ahead of it and that a new all-time high for BTC won’t come until at least December, Brandt received a flurry of feedback.

In response to Brandt’s hard questions, widely-followed on-chain data analyst Willy Woo argues that previous large drops happened when Bitcoin was already much higher

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