DeFI News by Thebittimes.Com

Veteran trader Peter Brandt is warning that a bearish signal is flashing for Bitcoin, indicating that BTC might head to much lower prices. Brandt tells his 763,600 followers on the social media platform X that Bitcoin may be forming a bearish reversal pattern on the daily chart that could lead to a dip into the $70,000 range. “Hey trolls, this is not a prediction. Just always pointing out possibilities, not probabilities, not certainties. No screenshot is necessary. BTC right-angled broadening triangle could project back into the $70,000s and a test of the parabolic modality.” Source: Peter Brandt/X Looking at the trader’s chart, he seems to predict that BTC may drop to as low as $76,614 if it shatters support at around $90,000. Bitcoin is trading for $97,201 at time of writing, up fractionally in the last 24 hours. Brandt is also warning that Ethereum (ETH) rival Cardano (ADA) may be printing a head and shoulders pattern on the daily time fra...

A legendary trading expert has warned young people banking on Bitcoin (BTC) as their ticket to financial freedom, even as proponents maintain the asset is poised for record highs. According to Peter Brandt, Bitcoin bull cycles have significantly ‘degenerated in magnitude’ over time, noting that Gen Z and millennials may have set their expectations regarding digital currency too high, he said in an X post on December 1. “Bitcoin bull cycles have exponentially degenerated in magnitude. BTC is likely to remain a great hedge vs. fiat busts. But, the bloom is off the rose. Gen M & Zers who view BTC as the road to financial glory are likely to be very disappointed,” he said.  Picks for you Here’s how bad the U.S. debt crisis has become 18 hours ago ...