Welcome Bonus: Sign Up & Get Up to $150 in BTC

Get Started
Peter Brandt: Bitcoin enters its “fourth parabolic phase,” taking aim at $100,000 Peter Brandt: Bitcoin enters its “fourth parabolic phase,” taking aim at $100,000

Peter Brandt: Bitcoin enters its “fourth parabolic phase,” taking aim at $100,000

Peter Brandt, a renowned technical analyst, asserted that Bitcoin is experiencing its โ€œfourth parabolic phaseโ€ after it burst through the $10,000 barrier.

Peter Brandt: Bitcoin enters its “fourth parabolic phase,” taking aim at $100,000

Cover art/illustration via CryptoSlate

๐Ÿ‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions!

Peter Brandt, a renowned technical analyst, asserted that Bitcoin is experiencing its โ€œfourth parabolic phaseโ€ after it burst through the $10,000 barrier. Now, Brandt says Bitcoin is taking aim at $100,000.

Yesterday, Bitcoin burst through the $10,000 resistance level and has been trading in a range between $10,3000โ€“$11,200 over the last 24-hours.

Bitcoin USD on TradingView
Price action in the last 24-hours:ย BTC/USD chart on TradingView

Now that Bitcoin surpassed the $10,000 psychological resistance level, Peter Brandt asserts that $100,000 is up next for the coin.

According to Brandt, in his 45 years of trading no other market has โ€œgone parabolicโ€ on a log chart. In other words, Brandt has never seen an asset appreciate as quickly and at the same magnitude as BTC has.

Bitcoin Parabolic Advance
Source: Peter Brandt

Brandt provides a second table for context, comparing the returns of BTC against parabolic moves from other assetsโ€”including Apple, Amazon, and Netflix, as well as two benchmarks.

In the chart below, companies are marked beginning at the IPO date, while Bitcoin is adjusted two years after its inception to account for low volume and inaccessibility prior to the advent of major exchanges.

For reference, Mt. Gox launched crypto trading in July of 2010, and prior to that, the most reliable way to accumulate large amounts of BTC was to mine it.

AssetSinceYearsLowHighAdvance
BitcoinOct. 20117$2.00$19,5319766-fold
Netflix200217$0.35$4231209-fold
Amazon199722$1.31$2,0501565-fold
Apple198237$0.16$2321450-fold
DJIA1903116$30.88$26,952873-fold
Gold1919100$20.67$1,92093-fold
Data from:Peter BrandtFactor, LLC

Something to note is this analysis highlights investments that trade over a large range, which is indicative of high volatilityโ€”and Bitcoin is known for its volatility.

Nonetheless, the returns netted by any of these breakout investments are extraordinary. Whether Bitcoin can climb from its December 2018 low of $3,148 to Brandtโ€™s prediction of $100,000โ€”a 32-fold increaseโ€”is still uncertain.