Legendary trader Peter Brandt, famous for predicting S&P 500 moves, now warns Bitcoin investors. He shared a long-term price chart with four key points on Dec. 14. The chart shows Bitcoin’s price since 2010, emphasizing major bull runs resembling parabolas with slow rises, quick peaks, and corrections.

Brandt’s post warns of “exponential decay” in bull cycles, where each rise is less extreme. Bitcoin’s bull cycles have seen “parabolic advances” but also quick breakdowns. Violations of previous parabolas have resulted in less than an 80% decline. The current parabolic advance for Bitcoin has been “violated,” potentially leading to a fall as low as $25,240.

Mike McGlone of Bloomberg Intelligence is even more bearish on Bitcoin. In a recent LinkedIn post, he suggested a rally past $100,000 might lead to a cycle back to $10,000 by 2026. Wealth-creation reversion could drive the next recession, especially with highly speculative digital assets that track nothing.

Read more at Yahoo Finance: Legendary analyst warns of 80% Bitcoin ‘decay’