.PeterLBrandt sees Bitcoin entering another bull market phase in 2024
Brandt expects the largest cryptocurrency to recreate its past boom-and-bust cycles despite how unpredictable its price seemingly is.
The largest cryptocurrency is currently trading below the $44,000 level on top spot exchanges. The price of Bitcoin peaked at $69,000 in November, but it then entered a downturn phase in early 2022. The U.S. Federal Reserve adopting a more hawkish stance toward cryptocurrencies was the main culprit behind the correction.
Permabulls such as MicroStrategy CEO Michael Saylor, however, claim that they do not respect traders, arguing that holding Bitcoin will pay off in the long run.
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