Veter trader and popular crypto analyst Peter Brandt says bitcoin could register its second-highest monthly close in history.
According to an update published on TradingView October 21, Brandt said bitcoin was poised for its second-highest monthly close, in large part due to the monumental announcement by PayPal to support crypto.
Brandt highlighted new developments for bitcoin since reaching its last all-time price peak in 2017, including adoption by institutions and large market cap investors.
While Brandt remains optimistic for bitcoin to hold its current gains through the end of the month, other analysts are predicting a pullback ahead.
Popular TradingView user Wyckoffmode (WM) published a video analysis on October 21, saying that bitcoin would undergo a brief price pullback before rallying higher.
WM pointed to the Relative Strength Indicator as evidence for his technicals, but noted bitcoin would experience “upward pressure” following the dip.
Following news of PayPal announcing support for bitcoin and crypto-assets earlier in the week, the price of BTC surged above $13,300 briefly before settling back to $12,800.
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