Bitcoin Price Will Hit $6,500-Mark in Near-Term: Veteran Commodity Trader

Bitcoin could undergo an immediate bearish correction, but it would eventually bounce back towards $6,500, according to Peter Brandt.
The veteran commodity trader said Saturday that the bitcoin price was meeting its crucial resistance level near $5,745, as shown in the chart below. There was a strong probability of the asset undergoing a reversal, which loosely means that traders were not confident to purchase bitcoin at its higher rate. Therefore, the ones who bought the asset near $5,000-