Bitcoin’s Price Has Reached Its Top
Crypto expert Peter Brandt believes that Bitcoin’s price has already reached its peak for this market cycle. He bases this on his “exponential decay” theory, which suggests that Bitcoin’s percentage gains have been decreasing in each bull cycle.
Exponential Decay Explained
Exponential decay means that Bitcoin’s price increases less and less with each cycle. For example, Bitcoin increased by 122x from its low to high in 2015-2017, but that was only 21.3% of its increase in the previous cycle (2011-2013).
Why This May Be Good for Bitcoin
Brandt believes that the exponential decay is actually good for Bitcoin in the long run. It means that Bitcoin’s price is becoming more stable and less volatile. This could make it more attractive to investors and help it become a more widely accepted currency.
What Happens Next?
If Bitcoin has indeed peaked, Brandt predicts that it will drop to around $30,000. However, he also believes that this could be a positive sign, as it could lead to a parabolic move to the upside in the future.
Comparison to Gold
Brandt compares Bitcoin’s price action to Gold’s chart from 2020-2024. He believes that Bitcoin could follow a similar pattern, with a period of consolidation followed by a major rally.
