Veteran trader Peter Brandt said that the parabolic phase of Bitcoin is still very much intact despite the 50% of leading cryptocurrency from its all-time high of $64,000.
In a new interview done with crypto analyst Scott Melker, Brandt also said that Bitcoin would continue to be on the long-term upward trend but further added that the volatility would remain a key feature for the flagship crypto.
The seasoned trader also highlighted the key price levels with tremendous demand for the leading cryptocurrency. Personally, they think that there is a good chance that $30,000 or less is going to hold them, but they are not sure that they will be out of the woods yet. Their money is on the fact that the lower is going to hold up for now.
But it does not mean to say that they will not slip through that, and even if they are doing so, they could not see some additional liquidations, and it means when you look at it, there is a tremendous demand for Bitcoin at $30,000.