Legendary analyst warns of 80% Bitcoin ‘decay’

Core Insights - Veteran trader Peter Brandt has raised concerns about Bitcoin's price movements, indicating a potential downturn based on historical patterns [1][4]. Group 1: Bitcoin Price Trends - Bitcoin's price chart since 2010 shows major bull runs characterized by a parabolic shape, where prices rise slowly, then rapidly, peak, and subsequently enter a correction phase [2]. - Brandt warns that bull cycles have experienced "exponential decay," meaning that while Bitcoin still rises in bull markets, each subsequent cycle is less extreme than the previous one [3]. - The current parabolic advance of Bitcoin has been "violated," suggesting a potential drop to as low as $25,240 as it begins to fall from its recent peak [4]. Group 2: Market Sentiment - Analyst Mike McGlone from Bloomberg Intelligence expresses a bearish outlook, predicting that Bitcoin could drop to $10,000, suggesting a cycle back toward this level by 2026 [5]. - The anticipated wealth-creation reversion is expected to drive the next recession, particularly affecting speculative digital assets that lack intrinsic value [6].