Long time Commodities trader says Bitcoin will break $100k, it's just a matter of when

There is no "if" according to long time commodities trader Peter Brandt.

The cat is out of the bag, the genie is out of the lamp, and the train has left the proverbial station.

According to Mr. Brandt, bitcoin will very likely break $100k at some point, it's just a matter of timing really.

It will either happen within the next year or two, or we may have to wait several years, and that decision is very likely to be made shortly.

Bitcoin is currently at a major inflection point

According to Brandt, bitcoin is at a major inflection point right now.

One that will determine how soon we see $100k.

On the bullish side, he sees this:

Where bitcoin doesn't break the multi year channel to the downside and very shortly starts moving back up towards the upper end of this channel.

This scenario could have bitcoin seeing new highs as soon as middle of next year.

This would be the best case scenario and one that could predict $100k within the next 2 years.

The bearish outcome would prolong things just a bit...

And that may look something like this according to Brandt:

Where bitcoin violates that multi year channel to the downside, causing major capitulation among bulls.

This would likely cause bitcoin to bottom out sometime middle of next year in the $5k area according to Brandt.

After that though, he also believes it will start turning back up and continue its longer term march towards $100k.

So, there you have it...

We are getting to $100k either way according to Brandt, it's just a matter of whether that happens within the next 2 years or perhaps the next 3-4.

I'm ok with either one personally, it just has to happen. :)

Stay informed my friends.

-Doc