Bitcoin 
$82,845.16The price of has entered a downward phase in line with the historical cycle. Although there is panic in the cryptocurrency market, experienced analysts Peter BrandtAccording to , this collapse lays the foundations of a new bull market. The famous analyst claimed that Bitcoin will reach $ 200,000 in the next cycle and that the current decline is a harbinger of the rise in the long term.
Peter Brandt: “Downturn is the Best Scenario for Bitcoin”
Experienced analyst Brandt on November 21 X In his analysis shared on his account, he recalled Bitcoin’s historical peak-bottom cycles and described the current price decline as “the best development for Bitcoin”. According to Brandt, the market is currently in the bear phase of the classic four-year cycle, and at the end of this process, a new record period will begin. According to the analyst, Bitcoin could reach the $200,000 level in the third quarter of 2029.
Brandt still holds BTCHe also announced that ‘s constitute 40 percent of his total portfolio. Stating that its average cost is 1/20 of the purchase average of Michael Saylor’s Strategy company, Brandt stated that he maintained his long-term position. Although it received harsh criticism in the market, the experienced analyst also emphasized that he saw the current decline as “a necessary purification process before the bull”.
Technical Outlook on Bitcoin
Brandt’s previous analysis indicated that Bitcoin formed strong support areas at $81,000 and $58,000. According to the analyst, many investors who say they will buy in the market at $ 58,000 may experience a sales panic when the price drops to $ 60,000. Brandt thinks that the price will recover after this psychological threshold is broken.
Technical data also supports the analyst’s view. When the 50-day average falls below the 200-day average on the daily chart death cross formation occurred. This moving average crossover triggers long-term rallies that begin after historically strong declines. Additionally, the 200-week moving average is at approximately $56,000 and is considered a strong reference zone for the possible bottom zone.
Bitcoin is currently trading at $84,262. The largest cryptocurrency has lost more than 8 percent in value in the last 24 hours. Transaction volume increased by 38 percent in the same period, revealing the intensity of sales pressure.
