Trader Peter Brandt: Bitcoin has broken below the "parabolic advance" of the bull market cycle

BlockBeats News, December 15: Peter Brandt, a well-known trader and chart analyst who successfully predicted the sharp drop in Bitcoin in 2018, stated this morning that the bull market cycle has experienced exponential decay. The current Bitcoin bull market cycle has seen parabolic growth, but has now dropped below the parabola. Historically, after breaking below the parabola, the average drop has been 80%.

Peter Brandt estimates that based on this drop percentage, the Bitcoin bottom will be $25,240.

In November, Peter Brandt had predicted that Bitcoin could drop to $60,000 as a bottom.