BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

The Bitcoin Bottom is In, But Choppy Waters Ahead

by BlockNews.com Team
October 26, 2023
in BREAKING NEWS, CRYPTO, FINANCE
Reading Time: 2 mins read
A A
1
SHARES
22
VIEWS
Share on XShare in TelegramShare on Reddit
  • Veteran trader Peter Brandt believes Bitcoin has already bottomed from its 2022 bear market, but warns of volatility ahead before new all-time highs.
  • Brandt expects Bitcoin to reach new all-time highs by Q3 2024, though he cautions the future is uncertain and markets are full of surprises.
  • Bitcoin’s recent rally is attributed to optimism around a spot Bitcoin ETF approval, with analysts predicting 90% chance of approval by January 2024.

Veteran trader Peter Brandt believes Bitcoin has already bottomed from its 2022 bear market, but warns crypto investors to prepare for volatility on the road to new all-time highs.

Peter Brandt’s Market Outlook

The prop trader, who has been active since 1975, says Bitcoin likely bottomed in November 2022. He expects Bitcoin to reach new all-time highs by the third quarter of 2024. However, Brandt cautions that the future is uncertain and markets are always full of surprises.

🚨 NEWS: Veteran trader @PeterLBrandt predicts potential all-time highs for #Bitcoin by Q3 2024.

He believes the Bitcoin bottom is in and that $BTC is the priority.

NOT "pretenders" (altcoins) pic.twitter.com/5Pse5k1rui

— BlockNews.com (@blocknewsdotcom) October 26, 2023

Thoughts on Altcoins

When asked about Chainlink (LINK), Brandt said he sticks with Bitcoin and doesn’t get distracted by “pretenders.” The veteran trader explained he’s been using his current market blueprint for almost two years. Brandt added that his favorite Bitcoin chart is the weekly Renko, which he says avoids fake moves.

Driving Bitcoin’s Recent Rally

After months of sideways trading, Bitcoin has seen significant upward momentum lately. Many attribute Bitcoin’s strong performance to growing optimism around a spot Bitcoin ETF approval. On October 23rd, Bitcoin briefly topped $35,000 after BlackRock’s potential ETF was listed on the DTCC website.

Likelihood of ETF Approval

Leading ETF analysts predict a 90% chance of ETF approval by January 2024. Meanwhile, a senior executive at Ernst & Young says institutional investors are waiting on the sidelines for an ETF to trigger Bitcoin purchases.

Conclusion

While choppy waters lie ahead, veteran trader Peter Brandt believes the Bitcoin bottom is in. He expects new all-time highs by late 2024, but cautions that markets will remain volatile on the road to the next peak.

Tags: BitcoinBitcoin ETFBlockchaincrypto
TweetShareShare
Previous Post

Senator Elizabeth Warren Finds Support to Tackle Crypto-Financed Terrorism

Next Post

The SEC vs. Coinbase: What the Grayscale ETF Ruling Means for Crypto Exchanges

DON'T MISS THESE! HOT OFF THE PRESS

Stellar (XLM) Skyrockets 75% in a Week—Leaving XRP in the Dust
CRYPTO

Stellar (XLM) Skyrockets 75% in a Week—Leaving XRP in the Dust

July 18, 2025
Cardano (ADA) Pumps 19%—Is It Ready to Break $1 or Just Bluffing Again?
CARDANO

Cardano (ADA) Pumps 19%—Is It Ready to Break $1 or Just Bluffing Again?

July 18, 2025
Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?
CRYPTO

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
Load More

Related News

Stellar (XLM) Skyrockets 75% in a Week—Leaving XRP in the Dust

Stellar (XLM) Skyrockets 75% in a Week—Leaving XRP in the Dust

July 18, 2025
Cardano (ADA) Pumps 19%—Is It Ready to Break $1 or Just Bluffing Again?

Cardano (ADA) Pumps 19%—Is It Ready to Break $1 or Just Bluffing Again?

July 18, 2025
Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.