He makes the case more on chart psychology than on pure economics. But the point he makes is valid -- because in any capital market, a decent portion of the demand vs. supply curves, which drive all price points. . . is due to traders' collective psychology.
Do they think there are more suckers, waiting in the wings, with cash to burn?
Or do they think that it is going to be a hard-scrabble Xmas (again)?
The latter seems clearly correct -- with Tangerine 2.0's chaos everywhere.
So he posits that once the parabola breaks -- not bends -- a 80% draw-down (to spot pricing around $25,000) will come. Maybe by mid-2026.
Here's CoinDesk on it all, on this dourly-chilly mid-December Monday morning:
. . .Veteran trader and chart analyst Peter Brandt has warned that bitcoin's signature growth parabola has fractured, opening the door to a brutal slide potentially down to $25,000.
Brandt's call hinges on exponential decay in bitcoin's bull cycles.
The cryptocurrency has historically rallied hard in 12-18 months after halving and subsequently slipped into a bear market, characterized by 70% to 80% pullback from record highs. . . .
However, each bull cycle has seen diminishing returns. For instance, following the first halving on Nov. 28, 2012, BTC chalked out a 100-fold rise to $1,240 by December 2013. The 2016 halving produced a 74-fold rise and the 2020 halving brought an eight-fold rise.
The latest post-halving cycle, which kicked off following the quadrennial event in April 2024, saw prices double to a record high of $126,000 by October this year. Since then, prices have pulled back to well-under $90,000, slicing through the parabola curve that has marked massive price uptrends during each prior cycle. . . .
I can first hand verify that Mr. Brandt was making multi-millions, on his charting -- of CFTC regulated commodities pools, back in the mid-1980s -- when I was just a neophyte junior associate attorney at a big Chicago lawfirm, one that was writing his disclosure documents.
Yep, I spent a lot of late nights, at a financial printer (what an old school world that was, with steaks delivered at 1 am, from Gene & Goergetti's -- then back at my desk on the 69th floor facing north by 7:30 am, shaved and showered, in another double breasted Italian designer suit -- the same morning! Whoah!) all while reading over his theories on markets (proofing them, actually).
And so, I can vouch for his now 45 year history of... far more good calls than bad ones.
And so, Riot Platforms will tank -- perhaps to below $10 -- and maybe back toward. . . $4, before it is all over. Onward, grinning.
Now you know.
नमस्ते


































