Geopolitics and graphs crash crypto

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Last Updated on 13 April 2024 by CryptoTips.eu

The threat of an attack by Iran on Israel and Peter Brandt’s technical analysis of the current Bitcoin chart were enough to give both the US stock markets and crypto a very bad Friday. More and more analysts see a possible selling wave in the charts.

Be careful while investing. In the long term, everything is still looking very good for Bitcoin. In the short term, it really depends on the mullahs in Tehran.

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Cathie Wood

Earlier this week we made a bearish prediction, and it is now supported by a Wall Street legend. Right now, the opinions of both Arthur Hayes, the crypto billionaire who once founded the Bitmex platform, and Peter Brandt, the legendary technical analyst, are in sync regarding the short-term prediction for Bitcoin. Both think we’re looking at a dump just before or straight after the halving.

To explain why we publish this, we have to go backĀ to the first day of the year. Back then Ark Invest CEO Cathie Wood said that Bitcoin would make a so-called ‘sell the news’ move if the Bitcoin ETFs were approved. We posted that piece with a certain risk. If you write crypto articles and you donā€™t join in with the fans who scream ‘higher, higher’ all the time, youā€™re not making yourself all too popular of course.

Ten days later, the Bitcoin ETFs were approved and the price of the largest digital coin indeed fell by about 20% in just a few days.

Short term versus long term

By now, it is mid-April and we are counting down to a new major event for Bitcoin, namely the halving.

While I saidĀ earlier this week that Arthur Hayes’ prediction for a possible near-term Bitcoin dump might have been “far-fetched,”Ā I should now note that his opinion is echoed by Peter Brandt, whoā€™s been looking at charts for decades and now also thinks that a short ‘dump’ just before or right after the halving is indeed a possibility.

Let us be clear: in the long term there is nothing wrong and we are still convinced that the price of Bitcoin will go higher. In the short term, these are two people with a lot of experience who warn of a ‘dump’ just before or just after the halving.

So pay attention. Support for Bitcoin can be found around the $58,000 zone.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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