At Present, Bitcoin bulls have turned around to rise above $41,000 after dropping below the $40K level. As the cryptocurrency market tries to stabilize, major altcoins have jumped onto the green candle barring Dogecoin, Shiba Inu, and Polygon (MATIC).
At the time of writing, Bitcoin has risen by 2.75% over the last 24hrs trading at $41,214.
Bitcoin To See A Massive 10x Time Surge
Right now though Bitcoin has claimed its $41,000 level, the currency is under deep loss over the past few weeks. But veteran trader, Peter Brandt took to Twitter predicting that Bitcoin price could increase ten times in 2 years from now.
On the flip side, the trader claims that the flagship currency may continue its sideways trading for a longer period if bulls fail to take control.
This recent prediction is based on a tweet by Bitcoin proponent Tuur Demeester. As per the tweet, Bitcoin tends to explode “like nothing on this planet” after long-lasting periods of consolidation.
Peter Brandt was seen estimating Bitcoin’s rocket stage might take off in 2024. This calculation was based on the previous market cycles patterns. The present scenario is not in favor of green candles for Bitcoin as the currency is trading below $42,000.
Also, the correlation between Nasdaq 100 and Bitcoin has reached another record high. As the hawkish Fed is increasing, traders are trying to exit the risky asset.
The flagship currency, Bitcoin is currently leading the market in greens giving some positive sign for the weekend.