Bitcoin Price To Fall Below $25K In May, Predicts Peter Brandt

Legendary trader Peter Brandt predicts Bitcoin price downfall as volatility and uncertainty rise amid the U.S. debt ceiling dilemma. The crypto community follows Peter Brandt’s updates closely because of his accurate predictions on Bitcoin price. While he remains bullish on Bitcoin hitting $40000, bearish sentiment is rising due to the recent turn of events.

Peter Brandt Predicts Bitcoin Price Fall Amid Debt Ceiling Crisis

Veteran trader Peter Brandt in a tweet on May 22 predicts that Bitcoin price can break below the $26,800 level. After the correction, Bitcoin price will continue to move higher. Earlier, he recommended going long on Bitcoin and predicted a BTC price target of $40,000.

According to his analysis, BTC price risks falling to $24,800. GoinGape Media also reported the same level after on-chain data and technical indicators pointed to an upcoming fall in Bitcoin price. A drawdown in BTC price offers investors to buy the dip.

He also added a warning for others who claim to think otherwise and believe there are no downside risks in BTC price currently.

“Perhaps one more shake out break, then thrust higher. But hey, that’s just a guess, and guessing is the best we have to offer. If anyone is dogmatic about their brilliance, turn and run, protecting your wallet.”

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BTC Price Fall To $25K

The global market set eyes on the US debt ceiling talks as President Joe Biden and Republicans fail to reach common terms in an earlier session. If the US default on its debt the global market could crash by 40% and the crypto market could also feel the shock initially. However, Bitcoin could rise suddenly as US dollar dominance and treasury bonds will be at risk. The rate hikes and banking crisis will continue to impact the market and investors.

BTC price currently trades at $26883, down 1% in the past 24 hours. The trading volume also fell massively in the last few days.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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