Bitcoin’s Future: Peter Brandt Predicts Price Plunge to $48K Before Major Rally

Bitcoin’s Future: Peter Brandt Predicts Price Plunge to $48K Before Major Rally

full version at en.coinotag
  • Acclaimed trader Peter Brandt recently shared his forecasts on Bitcoin’s price trends, predicting a challenging phase followed by a significant surge.
  • This assessment comes at a time when Bitcoin’s current trading patterns may be raising alarm bells for short-term traders.
  • Brandt’s projections hold substantial implications for the cryptocurrency market, especially concerning Bitcoin’s volatile movements.

Explore Peter Brandt’s predictions and the potential future trajectory of Bitcoin amidst market uncertainties.

Bitcoin’s Uncertain Journey: Anticipated Decline and Prospective Recovery

Brandt’s insights suggest that should Bitcoin fall beneath the $65,000 mark, it might plummet further to around $60,000, with a possible low of $48,000.

Currently, Bitcoin has encountered difficulties maintaining its position above the $70,000 threshold, showing a decline of 5.6% over the past week and currently valued at $67,170.

Despite this bleak short-term outlook, Brandt proposes a potential bright spot with a significant recovery on the horizon. His analysis covers immediate risks yet points towards a rebound, referring to this as the “pump” phase following the “dump.”

Chart to consider – Bitcoin $BTC
Typically, the most obvious chart interpretations prevail, even though charts can often change. The clearest scenario is this:
If Bitcoin breaches $65,000, it could fall to $60,000
If it falls below $60,000, it may drop to $48,000

— Peter Brandt (@PeterLBrandt) June 13, 2024

Brandt notes this pattern as indicative of the inherent volatility in the crypto markets, marking a crucial juncture for investors.

Earlier this year, he made similar observations when Bitcoin traded at $42,300, suggesting such cycles are regular features of bull markets, which help in distinguishing novice traders from seasoned investors.

JPMorgan Warns About Overstated Bitcoin ETF Demand

Meanwhile, financial entities like JPMorgan have raised concerns regarding the perceived demand for Bitcoin ETFs. JPMorgan’s recent analysis implies that the alleged surge in Bitcoin ETF demand might be overstated.

Their research indicates that most recent ETF inflows into Bitcoin are not new investments but a reallocation from traditional cryptocurrency exchange wallets to more regulated ETFs.

This transition is driven by the cost-efficiency, regulatory assurance, and deeper liquidity that ETFs provide compared to conventional crypto wallets.


“Not all inflows denote fresh capital entering the crypto market. It appears there’s been a considerable shift from digital wallets on exchanges towards new spot Bitcoin ETFs due to cost…

— matthew sigel, recovering CFA (@matthew_sigel) June 13, 2024

Additionally, with the introduction of spot ETFs, there’s been a notable drop in BTC reserves on exchanges, indicating that ETFs are becoming the preferred method for Bitcoin investment. Nonetheless, this shift suggests that the overall institutional demand might not be as robust as anticipated.

JPMorgan estimates genuine net inflows into Bitcoin ETFs since January to be around $12 billion, challenging the optimistic narrative of substantial institutional demand.


Peter Brandt’s analysis and JPMorgan’s warnings underscore the complexity of Bitcoin’s market dynamics. While short-term movements may appear discouraging, the potential for a significant rally exists. Investors may need to navigate these fluid conditions with a nuanced approach, keeping an eye on both market trends and institutional behaviors.

Recent conversions

0.108 ETH to ETH 0.07 SOL to CHF 0.5 BNB to ETH 0.0099 BTC to CAD 5000 BTC to USD 50000000 SHIB to CHF 21 BTC to ETH 10000 DOP to EUR 1 INR to AFN 0.813 BTC to BTC 30 SOL to NZD