Peter Brandt leaves question marks in Bitcoin analysis

Analyst Peter Brandt, who has reacted with his comments recently and even stated that he expected a very serious decrease in the price of Cardano (ADA) and then changed his mind, made a new Bitcoin comment, but was also subject to criticism from his followers.

Stating on his Twitter account that Bitcoin is not currently in a bull season that started in February, Brandt used the following statements:

“Bitcoin is not in a bull season that started in February when prices were low. BTC is currently in a broad congestion zone that started in February when prices were high. FOMO transactions in congestion zones can be expensive.”

Reply from Willy Woo: Invalid for BTC

While hundreds of responses came in a short time to this tweet, which Brandt implied a decline, followers reacted by stating that they could not understand what the famous analyst meant. Another famous analyst and Willy Woo, who constantly repeats that he expects a very serious rise for Bitcoin, also responded to Brandt:

“The definitions of bull/bear seasons of traditional assets are invalid for Bitcoin. They do not have logbooks. The underlying structure of Bitcoin is completely different. For example, if investors are buying strongly but traders are playing bearish with a short position, would it be a bear season? Traditional assets only look at price”

He had changed his mind about the ADA.

Brandt is a name that draws attention with his recent analyzes. The veteran analyst stated in July that ADA could see a similar decline to what Litecoin experienced in 2018.

Stating that he changed his mind a few weeks after this comment, Brandt said that he was expecting a rise. With its subsequent moves, ADA broke all-time high price records in a row.