- Legendary trader Peter Brandt expects Bitcoin price to drop during the US debt ceiling crisis.
- The Bitcoin community is closely following Peter Brandt’s updates, known for his accurate predictions.
- Brandt, who previously recommended long-term Bitcoin investment, predicted that BTC would reach a price target of $40,000.
Legendary trader Peter Brandt made predictions for the Bitcoin price in connection with the US debt ceiling crisis.
Bitcoin Price Forecast from Peter Brandt
Legendary trader Peter Brandt expects Bitcoin price to drop during the US debt ceiling crisis. Due to the increased volatility and uncertainty with this crisis, Brandt predicts a decrease in Bitcoin’s value.
The Bitcoin community is closely following Peter Brandt’s updates, known for his accurate predictions. While Bitcoin is targeting $40,000, recent events are starting to show a downward trend.
Peter Brandt predicts in a tweet on May 22 that Bitcoin could fall below $26,800. However, he believes that after this correction, the Bitcoin price will continue to rise. Brandt, who previously recommended long-term Bitcoin investment, predicted that BTC would reach a price target of $40,000.
Perhaps one more shake out break, then thrust higher. But hey, that’s just a guess, and guessing is the best we have to offer. If anyone is dogmatic about their brilliance, turn and run, protecting your wallet. pic.twitter.com/bnJN1zpzaH
— Peter Brandt (@PeterLBrandt) May 22, 2023
According to the analysis, there is a possibility that the Bitcoin (BTC) price could drop to $24,800. This drop offers investors an opportunity to buy BTC at a low price.
However, it is important to warn those who believe that there is no downward risk in BTC price. Some believe that the price may fluctuate for a while and then rise again. But this is just a guess. If there are those who believe firmly in this, it is recommended that they protect their wallets and move towards a safer investment.
Bitcoin Price Decline Deepens
The global market is focused on the US debt ceiling negotiations as US President Joe Biden and Republicans failed to agree on common terms in a previous session. If the US does not pay its debt, the global market could collapse by 40% and the crypto market could initially feel the shock.
However, Bitcoin could suddenly rise as the dominance of the US dollar and treasury bonds are at risk. Interest rate hikes and banking crises will continue to affect markets and investors.
The BTC price is currently trading at $26,883 with a 1% drop in the last 24 hours. Trading volume has also dropped significantly in the last few days. The 24-hour volume is $9.6 billion.
