Peter Brandt, CEO of Factor LLC, has revived his June 2019 parabolic forecast for Bitcoin as the cryptocurrency pushed through $80,000 and tested resistance at $82,000. In 2019, when Bitcoin was trading around $10,000, the 45-year veteran analyst had predicted a $100,000 target. Bitcoin’s previous cycles recorded gains of 20x, 489x, 42x and 93x respectively. Institutional support through spot ETFs represents the key difference from 2019 market conditions driven by speculation and retail investors. Due to its enormous market capitalization, Bitcoin will struggle to deliver previous 100x returns, but the logarithmic parabolic trajectory itself remains valid as long as critical support lines hold.
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