‘It’s Deja Vu’—Legendary Trader Who Called 2018’s Bitcoin Crash Issues Stark Prediction As Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, And Dogecoin Sink

‘It’s Deja Vu’—Legendary Trader Who Called 2018’s Bitcoin Crash Issues Stark Prediction As Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, And Dogecoin Sink

Bitcoin BTC and many other cryptocurrencies keep chugging downhill. This week the bitcoin price plunged to a little over $38, 000 before rebounding this morning. The price of ethereum and solana dipped a few basis points, XRP 15%, cardano 5%. Dogecoin and BNB are slightly up. Meanwhile, renowned trader Peter Brandt—who earned his name in the crypto space by calling some of bitcoin's biggest moves, including its 80% decline in 2018—warns crypto investors of a looming dot-com-like crash. In a recent tweet, one of the world's most respected "chartists" highlighted "structural similarities" in the Nasdaq between today and the eve of the dot-com crash and called it "deja vu all over again". Brandt believes, therefore, that bitcoin may be in for a major correction and its price could plunge to $27, 000 in the short term. [Ed note: Investing in crypto is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] What do stocks have to do with bitcoin and crypto as a whole? For starters, major cryptos are highly correlated to the stock market. They also have a high beta to stocks. That means crypto, in effect, amplifies moves