Will Bitcoin face a 75% big dump? Senior investors point out historical cycle patterns.

Source: DigitalToday Original Title: Will Bitcoin plummet another 75%? Peter Brandt claims “historical pattern possible” Original Link:

As Bitcoin fell below $90,000, causing market turmoil, veteran investor Peter Brandt raised the possibility of further declines.

Peter Brandt has raised the possibility that Bitcoin could drop by 75% as it repeats historical patterns. Despite the confluence of bearish factors such as the surge in the Japanese yen and excessive leverage liquidations, Brandt has focused on the cyclical nature of Bitcoin.

He explained that “Bitcoin shows a parabolic ( increase in a bull market, and if it deviates from this, it drops by more than 75%.” Similar patterns have repeated in 2011, 2013, 2017, and 2021, and there is a high possibility that the recent downward trend will follow the same pattern.

According to Brant, Bitcoin plummeted 86% from $15 to $1 after breaking the parabolic uptrend in June 2011. In 2013, it also fell 80% from $827 to $162, and in 2017 and 2021, it experienced corrections of 77% and 74.2%, respectively. In this bull market, Bitcoin has continued its upward trend since 2022 but has recently declined, repeating the pattern. Brant warned that “based on past cases, Bitcoin is likely to drop again by more than 75%.” If this prediction materializes, Bitcoin could fall to around $25,750.

On the other hand, other analysts believe that this decline is merely a short-term correction and that the upward trend will continue. Cryptocurrency analyst Michaël van de Poppe stated, “The recent decline is not strong enough to break the bull market,” and asserted, “Bitcoin will retest the resistance level of $90,000 to $94,000 and will soon break through $100,000.”

Bitcoin has historically gone through extreme rises and falls. Whether Peter Brandt's warnings will materialize or if a bull market will continue remains uncertain. However, considering that the market has followed past patterns, investors need to take a cautious approach.