web3 : Brandt Revisits Bitcoin's 2019 Price Rise Model
U.Today
46m ago
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Peter Brandt Revisits the Bitcoin upward trend model from 2019, stating that the current trend is still supported by historical channels.
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Foreign media: The CEO of Factor LLC has brought up again the logarithmic chart of Bitcoin that he drew in 2019, believing that the current trend is still continuing the upward structure of that year. The article states that this judgment came at a time when the price of Bitcoin rose above $80,000 and tested the resistance level of $82,000.

The goals for 2019 were brought up again.

Brandt set a target of $100,000 for Bitcoin in June 2019. At that time, Bitcoin was around $10,000. In his charts, he compared Bitcoin with assets such as Apple, Amazon, Netflix, and gold, stating that Bitcoin's performance over cycles was more prominent.

Institutional funds have become a new variable.

The article points out that the biggest difference between the current market and 2019 is the significantly increased participation of institutions. At this stage, the support no longer mainly comes from retail investor sentiment, but rather from the continuous inflow of funds from large funds and spot ETF.

The upward movement still depends on the support of the channel.

The model of Brandt believes that as long as the key support lines are not breached, Bitcoin's long-term upward trend remains valid. The article also mentions that as the market capitalization expands, it has become more difficult for Bitcoin to experience a 100-fold increase in value again, but its logarithmic trajectory has not changed.

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