Peter Brandt: Bitcoin Fundamentals Hint At $100k
An important financial trader, Peter Brandt, said that Bitcoin fundamentals are suggesting that the coin is poised to rally up to $100,000.
“The Bitcoin narrative makes sense to me. It makes me want to say Bitcoin is going to the moon – $50,000 Bitcoin, $100,000 Bitcoin. But boy, is there a big caveat to that,” Brandt said.
He continued: “The caveat to me is that Bitcoin right now has every reason in the world to go up. Its monetary supply. [The current] global uncertainty. It’s a strong gold market. It’s a weak stock market. My goodness, if Bitcoin can’t go up with what we have as a backdrop now, part of me as a technician wants to look for the shadows in the dark alleyway.” (Source)