Investing.com Peter Brandt, who has long been known for his Bitcoin price forecasts, stated in his latest post that he has set a target for the price of Bitcoin, and expects sharp rises above this value..
Veteran analyst Brandt advised investors to think in the long term in the largest digital currency, after it established its feet above 30,000 in the latest price movement, with the effect of positive mood..
While Peter Brandt was talking about the rally in the stock market and gold in conjunction with the bitcoin rally, he set a price target of $40,000 for bitcoin. On the chart that Brandt shared, he indicated that BTC It targets a price level of $40,000, after forming the strong support at $25,000, and surpassing $29,000..
Brandt offered a broader perspective on his earlier forecast, saying that Bitcoin could surpass the record high of $69,000 next year..
While Bitcoin continues its positive trajectory in today’s market, Ethereum has started tracking Bitcoin’s movement over the past 24 hours. While the largest altcoin jumped to $2,100 with a 10% increase in value since yesterday, Bitcoin sits at around $31,000 with a relatively smaller increase in value..
Ethereum investors have significantly increased their demand for the digital currency, especially after the successful implementation of the Shabella update. While it is noted that the first move after the grid update was bullish, market commentators continued to warn of a possible correction.
By Jonay Kimes
