Peter Brandt: Bitcoin may have peaked and could fall back to $30,000

Famous trader Peter Brandt recently stated in a blog post that Bitcoin may have reached its peak when it hit a new all-time high of $73,835. He predicts that Bitcoin will fall back to a moderate level of $30,000 or even the low point of 2021. Peter attributes this expected pullback to a phenomenon called exponential decay, which he believes will affect the cryptocurrency that recently hit a new all-time high of $73,835. In the long run, such a decline may be "the best thing."