The cryptocurrency market may be in big trouble if bitcoin (EXANTE: Bitcoin) fails to rally on the current crisis, the well-known trader of classical charting principles since Peter Brandt wrote on Twitter.
Brandt thinks that in the current "perfect storm" bitcoin should outperform the traditional financial market as it is experiencing fever amid coronavirus spread and possible oil war.
For BTC, this is the perfect storm.— Peter Brandt (@PeterLBrandt) March 27, 2020
If Bitcoin cannot rally on this, then crypto is in BIG trouble.
Earlier iHodl reported that Brandt expressed an opinion, according to which, the highly anticipated bitcoin halving which is set on May this year, is "grossly overrated" by the cryptocurrency community.
The bitcoin block mining reward halves every 210,000 blocks. The coin reward will be decreased from 12.5 to 6.25 coins approximately on 12 May 2020.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.