Peter Brandt: Bitcoin Could Hit $5,500 in 2020
The Factor CEO Thinks the Bulls Could Throw in the Towel
Peter Brandt, the Factor LLC CEO, said that Bitcoin could drop to $5,500 before it shows a recovery. In a Tweet sent on November 21, Brandt set his floor price for the world’s largest cryptocurrency.
“My target of $5,500 is not far below today’s low. But I think the surprise might be in the duration and nature of [the] market,” he wrote.
He also said that he expects the low to occur in July 2020.
“That will wear out bulls quicker than a price correction.”
Peter Brandt vs. Charles Hoskinson
Peter Brandt wasn’t the only person to offer a bearish prediction in the CoinTelegraph report this week. In addition, crypto trader Tone Vays set a flow of about $4,500 for Bitcoin. That five alighted with the possibility accepted by Willy Woo.
“I expect way more volatility. Short term bearish is all I’m saying. And don’t expect [the] price will repeat past halvenings,” Woo said last week.
The predictions came around the same time that Cardano Founder Charles Hoskinson forecasted that Bitcoin would soon bounce back to $10,000.
Hoskinson wrote Nov. 22 that he thought market manipulation and media “FUD” – fear, uncertainty, and doubt – played roles in the receipt downturn.
Hoskinson says Bitcoin will rebound and push toward six-figures in the future.
“Bitcoin’s price is going down?” he tweeted. “Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”
Latest Alternative Investment News
As uber-rich private equity and hedge fund billionaires are homing in on sports franchises, Steve Cohen is negotiating to up his current 8% stake in the Mets to 80%. Cohen…
LPL Financial launched a no-transaction-fee, ETF network where advisors can trade ETF’s for free in their advisory accounts. LPL Financial partnered with three leading ETF providers – State Street Global…
Goldman Sachs clients are hunkering down for a recession, but are still looking for multi-billion dollar investment opportunities. Speaking on a Bloomberg interview, Alison Mass, Goldman Sachs Group Inc.’s chairman…
SIFMA’s bi-annual survey compiles economic focus from its Roundtable members, the chief US economists of over 20 global and regional financial institutions. SIFMA’s 2019 End-Year US Economic Survey forecasts US…