If you were thinking of buying Bitcoin at current prices, then this article is tailor-made for you.
In a recent tweet, veteran trader Peter Brandt suggested that it might be time to buy Bitcoin. Brandt feels that market sentiment has shifted too far to the gloomy side, and that the cryptocurrency will likely rise. One of the most prominent contrarian investing strategies is buying assets when the market is scared. On the weekly chart, he also attached a price chart that shows Bitcoin forming a descending channel. Even while such patterns are typically bearish in the short term, if bulls penetrate the higher trend line, the flagship cryptocurrency will likely experience more gains.
Brandt underlined in his tweet that Bitcoin users adding laser eyes to their photos was a telltale sign of the market’s top.
Will you be considering buying Bitcoin after Brandt’s tweet? Comment below.
