Coinspeaker
Peter Brandt Predicts New ATH for Bitcoin during BTC Halving 2024, Contrary to Arthur Hayes’ Forecast

After opening Monday on a robust bullish outlook following the breakout from a micro pennant pattern, Bitcoin (BTC) price is currently undergoing a correction to retest the falling logarithmic trend. The flagship coin is gathering momentum to break through the psychological resistance level of around $74,000.

Furthermore, the highly anticipated fourth Bitcoin halving is about 11 days from happening, which will reduce its annual inflation from 1.68 percent to about 0.84 percent.

Bitcoin Market Overview

Bitcoin price led the altcoin industry in tangible gains during the first quarter following the approval of spot BTC ETFs in the United States. The supply of Bitcoin on centralized cryptocurrency exchanges has continued to drop after hitting a multi-year low earlier. According to on-chain data analysis provided by Glassnode, almost 111,000 Bitcoins, worth more than $7.5 billion, have been withdrawn from known top-tier cryptocurrency exchanges in the last month alone.

As a result, most experts are super bullis...