Veteran trader Peter Brandt warns that the Bitcoin price chart is beginning to show a pattern similar to that of the soybean market about 50 years ago, when soybean prices plummeted by 50% due to global supply exceeding demand after reaching a peak.
However, other Bitcoin analysts believe that the current chart indicates there is still room for upward movement in the future.
According to Brandt in an interview with Cointelegraph, "Bitcoin is forming a rare expanding top on the chart. This pattern typically appears at the top."
Brandt stated, "In the 1970s, soybeans also formed a similar top, after which their value dropped by 50%."
Brandt warns that if history repeats itself, the price of Bitcoin will be affected, and Michael Saylor's company, Strategy (MSTR), may also face difficulties.
The stock price of Strategy (MSTR) has fallen by 10.13% in the past 30 days, and the Bitcoin held by the company is under pressure due to a significant decline in net asset value (NAV).
Brandt further pointed out that the significant surge in Bitcoin that the crypto community is hoping for may never come, and instead, Bitcoin could drop to bear market levels as low as $60,000.
However, most analysts believe that Bitcoin still has one major upward movement left in this cycle, with the potential to push the price up to $250,000. BitMEX co-founder Arthur Hayes shares a similar view.
According to CoinGlass data, the fourth quarter has historically been the strongest quarter for Bitcoin, with an average return of 78.49%. October is also considered a strong month for Bitcoin.
Due to recent tariff threats from U.S. President Trump, the market has retraced after reaching new highs, and market sentiment has turned bearish, leading analysts to become more cautious.
Despite the current traditional strong month for the crypto market, the latest score of the cryptocurrency fear and greed index on Wednesday was 25, indicating that the market is in a state of extreme fear.
Trading account AlphaBTC on the X platform stated that Bitcoin "really needs to hold this level, maintain the recent highs, and attempt again the monthly opening price that was rejected yesterday."
However, not all analysts are so pessimistic.
21Shares crypto investment expert David Hernandez stated that if there are any signs of relief in the U.S. Consumer Price Index (CPI) or if the "perfect de-inflation narrative continues," the "window of opportunity" for Bitcoin may open quickly, with prices expected to rise further. He added:
Meanwhile, Michaël van de Poppe, founder of MN Trading Capital, pointed out that gold has recently pulled back 5.5% from its highs, which may signal a "rotation" of funds into Bitcoin and other cryptocurrencies.
Related: Bitcoin (BTC) whales quietly embrace BlackRock ETF after SEC rule changes
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
