PANews reported on February 6th that Peter Brandt, the renowned trader and chart analyst who successfully predicted the 2018 Bitcoin crash, wrote today that if Bitcoin falls to the "banana peel" technical zone as it has in past bear market cycles, then the downside for bulls will be limited, with the bottom likely around $42,000. The current price is very close to that target area.

Previously, on February 1st, Peter Brandt stated that Bitcoin might fall to $58,000, and the bear market was still ongoing .