After Bitcoin (BTC) attained a record high of above $100,000, one of the dominating opinions in the market is the asset’s potential to make further gains. However, some players foresee a possible plunge before attempting another all-time high.
In this line, legendary trading expert Peter Brandt has raised the possibility of Bitcoin experiencing one final “dump” or an extended period of consolidation before its next significant move upward.
In an X post on January 12, the expert backed his analysis with data showcasing Bitcoin’s recent price history identifying phases he labeled as “pump,” “hump,” and “dump.”
Bitcoin price analysis chart. Source: Peter Brandt
Notably, a “pump” is a period of rapid upward momentum, like Bitcoin’s rise from $70,000 to above $100,000 in late 2024, driven by strong buying and bullish sentiment amid the general post-election optimism.
A “hump” follows as the rally slows and encounters resistance, as seen in Bitc
We współpracy z: https://finbold.com/legendary-trader-sets-bitcoin-next-high-target-after-possible-dump/
