Bitcoin

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Peter Brandt, one of the most famous commodity traders, has sent shockwaves across the cryptocurrency community by <a href="https://x.com/PeterLBrandt/status/1844566492618084402" rel="noopener noreferrer nofollow">noting</a> that the price of Bitcoin might potentially crash by a staggering 75%.&nbsp;
Brandt's warning is based on the fact that the flagship cryptocurrency would typically face such a dramatic decline after failing to record a new price peak within 30 weeks after recording its previous all-time high.
Bitcoin recorded its current record peak of $73,737.94 on March 14. It has been more than 30 weeks since the cryptocurrency's previous record peak.&nbsp;
At the same time, Brandt has stressed that this is merely a market observation, not an opinion. "I am always amused by people who confuse a market observation with a market opinion. Drivers who cannot turn their heads in both directions always end up in an accident," he stressed.&nbsp;
The prominent chartist has also noted that Bitcoin is the "largest single tradeable asset" in his net worth.&nbsp;
The largest cryptocurrency is currently trading at $60,693 after logging a minor 0.4% price drop over the past 24 hours.&nbsp;

Legendary Trader Brandt Warns Bitcoin Price Might Collapse by More Than 75%

U_Today

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