Bitcoin-the bulls will fail because of FOMO, the correction is imminent. The opinion of an experienced trader

A veteran in trading, Peter Brandt do not count myself among those who can confuse the Bitcoin bulls. Yesterday’s jump in Bitcoin to 8700 dollars a trader called “premature phase FOMO”. In his opinion, all bulls will sooner or later surrender, and it is only a matter of time.

Many analysts expect the largest cryptocurrency breaks through several resistance levels. Brandt disagrees. According to his version, the sharp rise will soon change to “a significant correction”.

This correction will destroy the bulls, who themselves prematurely bought into the growth and destroying yourself. They continue to move can not.

Source: Twitter

The opinion of the Brandt has a right to exist. Only during the last uptrend Bitcoin shook the 2 correction. The first occurred on may 16 when a coin lost from a thousand dollars, and the second on may 22. Then Bitcoin has fallen from 8000 to 7600 dollars.

Brandt maintains its critical look at Bitcoin and the rest of the cryptocurrency market. And this is even despite the fact that the last two months coin paints a beautiful chart, which promises huge prospects for decentralized currencies. Since April, Bitcoin has grown by more than $ 4,500. Since the beginning of 2019 coin gained 135 percent.

How is Bitcoin?

Coming from a stage of stagnation in March, the coin breaks the resistance levels one after another — in spite of the fraud and the hacking of major cripture Bitfinex and Binance. As the experts say, a few years ago, a similar break-ins would easily topple kryptering.

One of the most probable reasons for the rapid growth of the coin is FOMO before the upcoming alvingham rewards of Bitcoin. It is scheduled for may 2020, exactly a year later. As shown by historical charts of Bitcoin, the coin always enters the growth stage for 3-12 months to reduce the remuneration.

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