Peter Brandt: Bitcoin may have peaked and could drop to $30,000

ChainCatcher news, renowned trader Peter Brandt recently stated in his blog post that Bitcoin may have peaked at a new all-time high of $73,835. He anticipates that Bitcoin will pull back to a medium level of $30,000 or even to the lows of 2021. Peter attributes this expected correction to a phenomenon known as exponential decay, which he believes will affect the recently set new all-time high of $73,835 for the cryptocurrency. In the long run, such a decline could be "the most favorable thing."