Veteran trader Peter Brandt predicts bitcoin to go down

May 2nd, 2022

The CEO of the global trading firm Factor LLC has predicted bitcoin to fall down to $28,000 in the short term.

The veteran futures trader with 50 year of experience made the prediction using a 24-hour BTC/UST chart.

According to Brandt, bitcoin is headed for a hard test of $32K or so. “My guess is $28K,” he added.

Though Brandt is bearish on bitcoin in the short term because of technical indicators, the veteran trader made it clear that this does not mean he is a bitcoin hater.

Last month, Brandt had predicted bitcoin could see $27-30k level in May or June.

Currently, bitcoin is trading at just below $39,000, up 2.65% in the last 24 hours.

For Brandt’s prediction to come true, bitcoin will have to fall by more than $10,000.