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Legendary trader Peter Brant, who has more than 50 years of experience in financial markets, has given the market a shocking prediction, suggesting that the price of Bitcoin could fall to $40,000.
At this time, the currency is trading between $86,000 and $93,000, but has not yet been able to break through the key resistance level at $93,000 at the start of December.
Brandt’s analysis is based on a long-term price channel that, according to him, has defined all Bitcoin cycles since 2013.
He explained that this year the currency did not reach the upper limit of the channel, a situation that had been repeated before but always ended with the price falling to the lower limit.
The current range starts from sub-$70,000 levels and extends all the way to the mid-$40,000 area, making this drop a realistic target for him rather than an alarming number.
This analysis coincides with Bitcoin’s sharp decline from around $92,000 to $86,000 levels, with the currency losing most of the gains it had established at the start of the week.
Brandt added that this type of move usually occurs when buyers lose control near key levels.
The pattern is changing from a healthy trend to a dangerous trend as the price is unable to regain the $93,000 levels within the monthly framework.
Responding to those who doubt his predictions, Brandt reminded that he has relied on the same model for more than a decade — one that monitored all major spikes and all sharp corrections in previous trading sessions.
According to this model, if Bitcoin fails to reach the upper boundary of the channel, it will typically visit the lower boundary, making the $40,000 area a normal part of the price path rather than a catastrophic situation.
Brandt believes that the recent decline, coupled with the absence of a positive monthly close and weak movement structure, these indicators are in line with his expectations.
He confirmed that the chart is not predicting a full-blown collapse, but simply shows that if current levels don’t hold, the $40,000 range remains a logical point during the current trading day.
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