BlockBeats News, August 21st. Renowned trader and chart analyst Peter Brandt, who accurately predicted the 2018 Bitcoin crash, stated in a post yesterday that Bitcoin was initially forming a head and shoulders pattern in reverse, indicating a bearish outlook due to the overall downward trend. However, the recent surge caused Bitcoin's formation to ultimately transition into a valid bottom.

Brandt openly admitted that he had "bought the breakout, for better or worse."

On July 20th, Peter Brandt mentioned that he expects this Bitcoin market cycle to bottom out on October 4, 2026, and believes that investing in Bitcoin for the next two to three years may outperform investing in AI stocks.