Bitcoin’s parabolic growth still continues despite major correction, according to veteran trader Peter Brandt

Veteran trader Peter Brandt says the bitcoin parabolic scene is still not badly damaged, despite the leading cryptocurrency dropping to an all-time high of $ 64,000.

In a new interview with crypto analyst Scott Melker, Brandt said Bitcoin continues its long-term upward trend, but volatility will remain a key feature of the flagship cryptocurrency.

 
“We’re still going too far parabolically. I think the most important thing is that people hang, $ 100 more, $ 100 less, $ 1,000 more, $ 10,000 more, $ 10,000 less. We are on a long-term upward trend. It’s going to take a significant amount of money to change my mind about it.

I think bitcoin is definitely a much bigger store of value than a Fiat currency can offer. That, of course, doesn’t mean bitcoin, though mostly, will go every day, every week, every month, even every year. But we will see volatility. You can be sure of one thing in bitcoin-it will be volatile.”

An experienced trader also points to a significant price level where there is a “huge” demand for the leading cryptocurrency.

“Personally, I think there’s a good chance that this $ 30,000 could keep us. But I still don’t know if we’re out of the woods, and maybe we can’t get that low. I’ll bet that lasts a minimum time.

But that doesn’t mean we can’t go through with it, and if we do, we could see an October liquidation. I mean, actually, if you look at that, we know there’s a huge demand for $ 30,000 worth of bitcoin. If we get close to that, there’s a jump.”

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Disclaimer: Hodl opinions are not investment advice. Investors must do due diligence before making high-risk investments in cryptocurrency bitcoin

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