While the world's largest cryptocurrency, Bitcoin, surpassed its all-time high (ATH) by reaching $ 109,358, remarkable statements came from two important names in the market.
Experienced commodity trader and economist Peter Brandt and cryptocurrency analyst il Capo of Crypto evaluated the rise from different perspectives.
Peter Brandt, who has been following the Bitcoin markets for a long time, argued that the ATH level should not be exaggerated technically, and stated that the rise is a natural process.
According to Brandt, new records should not be exaggerated from a technical perspective, because the definition of a bull market is that it constantly makes new highs. Brandt predicts that Bitcoin could rise to and peak in the $125,000 to $150,000 range by the end of August.
On the other hand, the analyst known in crypto markets as “il Capo of Crypto” takes a more cautious approach. According to the analyst, the current rise is not strong enough to change the long-term trend and these levels may be a local peak. The analyst states that he has realized some of his profits and opened short positions in both Bitcoin and leading altcoins. He also plans to increase his altcoin shorts in case of further bearish signals regarding the direction of the market.
il Capo stated that the recent BTC record did not change his views and that he believed the rise was a bull trap.
*This is not investment advice.
