While the leading cryptocurrency Bitcoin was on the rise after the failed assassination attempt on Donald Trump last weekend, a Bitcoin warning came from experienced analyst Peter Brandt.
Explaining his latest views on Bitcoin in his post from his X account, Brandt warned of a decline despite Bitcoin's recent rise.
The experienced analyst stated that Bitcoin continues on its way by recording lower peaks and valleys despite the recent positive catalysts: halving, increase in ETF demand and increased market excitement.
At this point, Brandt said that the series of lower highs and lower lows on the Bitcoin chart may indicate that the current price momentum is losing its strength.
According to Brandt, Bitcoin continues its pattern of lower highs and lower lows, overshadowing positive developments such as the BTC halving and the approval of Bitcoin ETFs.
Because, according to Brandt, markets have already priced in important events such as halving and ETF and their effects.
Bitcoin continues to trade at $64,898 at the time of writing.
While I am impressed by the current bounce in Bitcoin $BTC it should be noted that the sequence of lower highs and lower lows continues despite the halving, despite the ETf, despite the hype pic.twitter.com/V5M6FFaMpJ
— Peter Brandt (@PeterLBrandt) July 17, 2024
*This is not investment advice.
