Bayesian trader Peter Brandt believes that soon Bitcoin would be taking a great <a href="https://newslogical.com/commodity-trader-peter-brandt-says-bitcoin-will-hit-50000-high/" target="_blank" rel="noopener">leap</a> and reach a new all-time high above $50,000.

When Brandt made his prediction, Bitcoin tested its $10,000 resistance level and then came down below the mark.

While talking about Bitcoin’s recent movement, Brandt said, “That is actually where my head is.” He further said that presently, most Bitcoin patterns have recorded a massive triangle that appears to be a bit bullish.
<h2>Bitcoin Price Surges Above $10,000</h2>
At the time of weekly closing, the price of Bitcoin surge above $10,315, soon after that many of the researchers predicted that the new target level of BTC would be $10,500, and then it would go bullish. Presently, the value of a Bitcoin in the market against the US Dollar is $10,257. 

Brandt believes that presently, Bitcoin is showing bullish signals in the market. He further explained, “With the massive symmetrical triangle formed by BTC, the digital asset is poised to hit its all-time high, and then rise to $50,000.”

According to crypto experts, researchers, and traders, Bitcoin would start reviving by the end of the year 2021. 

A few months ago, Bitcoin halving took place and many of the crypto experts believe that after every halving Bitcoin experience a surge in its price which affects the entire ecosystem of the cryptocurrency.
<h2>PlanB Rubisshes His Earlier Prediction  </h2>
The propounder of the S2F model, analyst PlanB, predicted that by the end of 2024, Bitcoin would complete its bullish event and its price would reach $288,000. But after seeing its recent movement he proclaimed that in the year 2017, before completing its bullish cycle Bitcoin was at the same level as it is today.

Charles Edwards, the digital asset manager at Capriole, also predicted that if the banks in the US would start investing 1 percent of their asset into cryptocurrency, then the value of BTC would reach $20,000.

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Bitcoin To Reach New All-Time High $50,000, Peter Brandt

Bayesian trader Peter Brandt believes that soon Bitcoin would be taking a great leap and reach a new all-time high above $50,000.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Bitcoin To Reach New All-Time High $50,000, Peter Brandt

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