Bitcoin

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<p dir="ltr">Legendary trader Peter Brandt has shocked the community on his latest take regarding Bitcoin’s all-time high (ATH) price record. Taking to his official X account, the legendary trader&nbsp;<a href="https://twitter.com/PeterLBrandt/status/1782832517269324267" rel="noopener noreferrer nofollow">revealed</a> that the Bitcoin price has not achieved any ATH over the past three years.</p>
<h2 id="peter-brandt-yardstick">Peter Brandt yardstick</h2>
<p dir="ltr">The statement is at first counterintuitive to a layman because Bitcoin achieved its highest price level worth $73,750.07 on March 14. According to Peter Brandt, the Bitcoin price, adjusted for inflation, has not reached a new high in three years.</p>
<p dir="ltr">Per this metric, Peter Brandt posited that despite the approved spot Bitcoin ETF and the recently recorded BTC halving event, the coin's price remains low considering U.S. consumer purchasing power. Per the chart he shared to demonstrate the BTC adjusted price in relation to consumers' buying power, the coin last hit a high price in the second half of 2021.</p>
<p dir="ltr">Riding on this, the legendary trader said he and the best traders he has met in over 50 years of trading would like to know what Bitcoin bears think about the enormous potential that the cryptocurrency wields.</p>
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 <p lang="en" dir="ltr">The best traders I have known in my half century (50 years) of trading futures market are sincerely interested in what the people on the other side of their bets think, whether technically or from a global macro viewpoint.With that in mind, it is extremely interesting to note… <a href="https://t.co/SjrdOmAde4" rel="noopener noreferrer nofollow">pic.twitter.com/SjrdOmAde4</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1782832517269324267?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 23, 2024</a>
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<h2 id="bitcoin-price-forecasts">Bitcoin price forecasts</h2>
<p dir="ltr">As one of the most&nbsp;<a href="https://u.today/bitcoin-price-alert-veteran-trader-peter-brandt-hints-at-major-btc-move-ahead" rel="noopener noreferrer nofollow">vocal traders</a> on the market, Peter Brandt has always been forthright about his confidence in Bitcoin as an asset class. This stance, however, notably&nbsp;<a href="https://u.today/legendary-trader-peter-brandt-unleashes-fury-on-ethereum-its-a-junk-coin" rel="noopener noreferrer nofollow">contrasts with his take on Ethereum</a> (ETH).</p>
<p dir="ltr">Besides Brandt, many other market investors and analysts have issued a very high price target for Bitcoin. This is in hopes that spot Bitcoin ETF will trigger more demand in the future, a trend that the reduced supply from the halving will complement.</p>
<p>One such massive forecast came from "Rich Dad Poor Dad" author Robert Kiyosaki. The financial expert&nbsp;<a href="https://u.today/will-bitcoin-hit-100000-rich-dad-poor-dad-author-kiyosaki-makes-shocking-prediction" rel="noopener noreferrer nofollow">predicted</a> that the price of Bitcoin would soar well past $100,000 by the end of this year.</p>

Peter Brandt Says Bitcoin Has Not Hit ATH in 3 Years on This Condition

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