Peter Brandt, a veteran trader with nearly 4 decades of trading experience, previously called the 80% price drop of 2018 – and also predicted a bull run, which appears to be right.
The last time Factor's benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800. pic.twitter.com/uFJSkV9NwM
— Peter Brandt (@PeterLBrandt) May 2, 2019
The market is currently just under $8000 and does not look like it’s going to drop sharply. There has also been a string of positive news, which is really adding to the idea that we may be in a bull run.
That string news includes Amazon subsidiary Whole Foods accepting crypto, Microsoft building its decentralized service, and Bakkt preparing for User Acceptance Testing (UAT) of its bitcoin future contracts.
Tom Lee, Fundstrat CEO, has pointed to technical indicators, saying that a bull run may be 5 – 6 months away. The start of that bull run may just be happening.
