Cryptocurrency

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Could Bitcoin Rally Near $70,000

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Peter Brandt, the founder of Factor Trading, has said that Bitcoin’s current pattern is looking familiar, mirroring a rally that occurred in the spring of 2019. Brandt took to Twitter ($TWTR@US) to explain his thought on the matter by saying, “The BTC pattern is called an ascending triangle,” and he referenced pattern analysis and added an image that allows readers to compare the patterns from April 2019 to today. He also noted that there is a “real possibility” that Bitcoin could begin rallying, rising as high as $69,000. Bitcoin surpassed the $46,000 mark recently, down more than 30% from its all-time high. At press time, Bitcoin was trading at $$47,620, up nearly a percent in early trading.

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