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Trading Legend Peter Brandt Predicts More Pain for Ripple's XRP, Bitcoin Cash, and Litecoin

  • Alex Dovbnya
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    Peter Brandt suggests that the altcoin carnage will continue with an even more brutal twist

Trading Legend Peter Brandt Predicts More Pain for Ripple's XRP, Bitcoin Cash, and Litecoin
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Contents

Commodity trading veteran Peter Brandt has just rubbed salt into the wounds of some altcoins bagholders who have already experienced a lot of pain this week.

His technical analysis shows that top cryptocurrencies are on the verge of capitulation.

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No moon trips for you

According to Brandt, Bitcoin Cash (BCH), Litecoin (LTC), and Ripple’s XRP are positioned for further price decline despite trimming most of their gains in 2019.

As reported earlier by U.Today, Brandt predicted that XRP could collapse $0.02, thus becoming almost worthless. He also accused Ripple of pullings the strings in order to sustain the price stability of its native token.

Still, while this TA looks undoubtedly ugly, some Twitter users rightfully pointed out that positive news sentiment could drastically change the course of things.

At press time, every single altcoin within the top 50 (save for Bytecoin) is painted red after Bitcoin failed to breach $11,000 and started to wave the white flag.

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Pullbacks are ok-ish

Brandt, who accurately predicted that Bitcoin was on the verge of parabolic advance back in April, didn’t share his take on the number one currency this time around.

However, he earlier said that significant pullbacks in the 30-50 percent range are normal within a bull trend.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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