Trader Peter Brandt: Bitcoin has fallen below the "parabolic rise" of the bull market cycle

Famous trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, stated this morning that the bull market cycle has experienced exponential decay. This round of Bitcoin's bull market cycle has seen a parabolic rise, and it has now fallen below the parabola. Historically, after falling below the parabola, the average decline has been 80%.

Peter Brandt estimates that based on this decline, the bottom for Bitcoin will be $25,240. In November, Peter Brandt had predicted that Bitcoin could drop to $60,000 to find its bottom.