Bitcoin Price Prediction: Legendary Trader Sees Potential for Drop to $40,000

Renowned trader Peter Brandt has made a bold prediction about Bitcoin’s future price, claiming it could potentially reach the $40,000 level. In his latest analysis on X (formerly Twitter), Brandt highlighted that this decline aligns with historical patterns observed in the cryptocurrency market since 2013. He believes Bitcoin never breached the upper boundary of a long-term channel during its recent surge, and every time it did, the market ultimately plummeted to the lower band, now situated near $70,000. This suggests a potential target for Bitcoin of around $40,000, a prediction he considers a realistic possibility.