#Bitcoin chart is a rehash of 1970s soybean bubble: Peter Brandt.

The #Bitcoin price chart has started looking like the soybean market of 50 years ago where prices skyrocketed to an all-time high before falling 50% once world supply began to outpace demand, warns veteran trader Peter Brandt.

"$BTC

BTC

95,561.2

-0.42%

#Bitcoin is creating a rare broadening top on the charts. This topping pattern is renowned for tops," Brandt said to Cointelegraph.

Most analysts, however, are sure that Bitcoin has one final major rally in this cycle, one that could take $BTC Bitcoin's price to as much as $250,000, says market players such as BitMEX co-founder Arthur Hayes.