Brandt: BTC may rally big after deeper correction
Peter Brandt showed Bitcoin moving on previously repeated patterns, which suggest that the ongoing price correction may not be over yet.
- Next parabolic rise. Peter Brandt warns BTC could face a major correction before its next rally.
Peter Brandt, veteran crypto trader and Bitcoin advocate, has spilled a hard truth on Bitcoin’s price pattern in a recent X post on Monday, December 1st. The trader shared a rare analysis suggesting that the leading cryptocurrency will see a massive price rally in the future, but it may plunge harder first.
In his post, Peter Brandt shared a long-term Bitcoin chart that shows repeated patterns in all Bitcoin’s bull cycles since its launch. Brandt warned that Bitcoin might still be headed for a deeper correction, as its previous bull markets have all ended the same way.
- Price history. BTC has repeated this pattern across five major cycles since 2010.
He noted that these bull markets have often been preceded by a 75% or greater price correction. While he explained that there have been five major bull cycles since the asset launched in 2010, the chart shows each of the cycles moving on a steep, curved parabolic rise, followed by a sharp violation of that curve which then leads to a deep price correction.
Billy Markus speaks out on recent crypto crash
Dogecoin creator has shared what appears like sarcastic commentary on the latest crypto market crash.
- Manipulation claims. Dogecoin creator Billy Markus reacted to the latest crypto crash, calling claims of “manipulation”.
The recent crypto crash has sparked reactions from players in the sector, with Billy Markus dropping a reaction post on X.
Notably, reacting to the prevailing sentiments in some quarters that the crypto market crashed as a result of manipulation, Markus dismissed it as an emotional response. He mocked those who always believe that when the prices of crypto assets dip, it is the result of whale manipulation.
- Psychological errors. He highlighted the double standard, noting that rapid gains are always seen as “organic,” while declines are blamed on manipulation.
Some market participants are quick to blame large holders in the space for dumping their assets on the market to create selling pressure. They believe that these whales turn around to buy the token at a lower price, a move considered manipulation.
However, Markus exposed the error in such reasoning when he stated, “Remember, all dumps are manipulation, and all pumps are super organic.”
He emphasized that whenever there is a rapid gain in the price of assets, traders applaud it as natural. They consider the rise as an organic increase in price and not manipulation. Some even celebrate with comments such as, “We are going to the moon.”
Ripple secures expanded MPI license in Singapore
Ripple can now offer a broader suite of payment services legally.
- Major license. Ripple has received an expanded MPI license from Singapore’s Monetary Authority (MAS).
Ripple, an enterprise blockchain company, has obtained a new expanded license in Singapore, according to a Monday announcement. The new license will make it possible for the San Francisco-headquartered company to expand its scope of activities in one of the biggest crypto hubs.
Singapore is a key financial hub in Asia It is known for having a clear and progressive regulatory framework for digital assets. Its regulator, the Monetary Authority of Singapore (MAS), has created standards that many other countries look to when designing crypto regulations.
- Partnership expansion. The upgrade allows Ripple to onboard more financial institutions across the region.
In Singapore, an MPI license is required for companies that provide payment services over certain thresholds. It allows a company to legally handle various types of payments, including cross-border fund transfers. Ripple’s Singapore subsidiary already held this MPI license, which is obtained back in 2023.
- Payment expansion. Banks and fintechs can legally send large-volume cross-border payments through Ripple’s payment rails.
The key development is that MAS has now approved an expanded scope of payment activities under this license. With the expanded Singapore MPI license, Ripple can legally onboard more financial institutions in the region.
The expanded license also makes it possible for Ripple to legally support digital payment tokens (DPTs) like XRP in regulated transactions. Banks and fintechs can now send large volumes of cross-border payments using Ripple’s rails, which is a significant win for the company.