Peter Brandt has suggested that the volatile move Cardano, Ethereum, and Bitcoin are experiencing right now could end up similarly to that of the early Microsoft (MSFT) stock patterns from 2007-2013.
<h2><strong>Could ADA, ETH, BTC Follow MSFT's Footstep?</strong></h2>
In his recent <a href="https://twitter.com/PeterLBrandt/status/1425447458683895815" target="_blank" rel="nofollow noopener">tweet</a>, legendary trader Peter Brandt published two charts about Microsoft, the second-largest company in the world by market cap.

https://twitter.com/PeterLBrandt/status/1425447458683895815

The first chart represents the company’s stock patterns from 2007-2013 wherein each share was trading in the $12-$27 range, while the other chart shows the company’s recent all-time high to $286 reached on July 23.

While analysts usually resort to comparing the growth of cryptocurrencies to that of tech companies, not all comparisons might be applicable to every situation.

Despite this, Brandt suggests that Microsoft could serve as a perfect example for cryptocurrencies like Cardano, Ethereum, and Bitcoin who might similarly end up positioning to meteoric highs sometime amid its recent price fluctuations.

For instance, Bitcoin, at one point in time saw ATH of $20,000 during the 2017 bull run while its <a href="https://www.cryptoknowmics.com/news/altcoins-rise-as-bitcoin-bulls-rally-above-48000/">recent</a> all-time saw a whopping $65,000 in March.

However, Microsoft’s growth has been largely attributed to its cloud-computing services in the 2010s while cryptocurrencies are controversial and yet to see broader mainstream adoption.
<h2><strong>Cardano Could Retest All-Time Highs</strong></h2>
The recent spike in buying pressure behind Cardano (ADA) has sent the prices of the cryptocurrency above the pattern’s right shoulder, giving a bearish outlook.

Despite this, Peter Brandt has a bullish <a href="https://www.cryptoknowmics.com/news/veteran-trader-peter-brandt-predicts-ada-could-drop-up-to-90/">outlook</a> on ADA as long as the $1.25 support level continues to hold, otherwise, it could re-test support below $1:

<em>'"New development in Cardano $ADAUSD The advance through the Jul 4 high goes a long way to negate the potential bearishness of the H&amp;S top in this crypto. In fact, this price action can be viewed as bullish as long as price remains above 1.25."</em>

https://twitter.com/PeterLBrandt/status/1425077211573403660

At one point in time, Brandt compared Cardano (ADA) with Litecoin (LTC) in 2018 when the latter formed a head and shoulders pattern leading to a subsequent downfall.

Peter Brandt Compares Microsoft to Cardano, Ethereum and Bitcoin

Peter Brandt says that Cardano, Ethereum, and Bitcoin could end up similarly to that of the early Microsoft stock patterns from 2007-2013.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Peter Brandt Compares Microsoft to Cardano, Ethereum and Bitcoin

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