Bitcoin took a tumble over the weekend, falling to $60,850 before recovering to around $64,500. This sudden drop has sparked a lot of questions.
The “End Run” Theory
Peter Brandt, a veteran trader, believes the price action is a potential turning point. He calls it an “end run,” a maneuver to bypass obstacles and gain an advantage.
Brandt sees a symmetrical triangle pattern on Bitcoin’s price chart. This pattern often signals a period of consolidation before a breakout, either upwards or downwards.
Breakout or Breakdown?
Brandt’s “end run” theory suggests that Bitcoin is poised for a breakout. But which direction will it go?
Bullish Undercurrent
Despite the short-term jitters, Brandt remains bullish on Bitcoin’s long-term potential. He predicts it could reach $200,000 by 2025.
Fear and Opportunity
The Bitcoin price drop has exposed the tension in the cryptocurrency market: fear versus opportunity. Some investors see it as a buying opportunity, while others are cautious.
