{"id":69315,"date":"2022-10-31T12:41:43","date_gmt":"2022-10-31T10:41:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69315"},"modified":"2025-09-07T19:15:26","modified_gmt":"2025-09-07T16:15:26","slug":"peter-brandt-notes-end-of-dogecoins-bear-trend","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/peter-brandt-notes-end-of-dogecoins-bear-trend\/","title":{"rendered":"Peter Brandt notes end of Dogecoin&#8217;s bear trend"},"content":{"rendered":"<p>Peter Brandt, a technical analyst and head of Factor LLC, wrote about the end of the downward cycle of the meme cryptocurrency Dogecoin (DOGE).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A common mistake made by novice and wanna-be traders is assuming that an end to a bear phase of a market is automatically a signal that a bull market has begun. This assumption is most often wrong <a href=\"https:\/\/t.co\/Ib2T86Md0n\">https:\/\/t.co\/Ib2T86Md0n<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1586730176045412352?ref_src=twsrc%5Etfw\">October 30, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>This is called a bearish channel, the breakout of which ended the bear market for DOGE, which began in May 2021, he wrote.<\/p>\n<\/blockquote>\n<p>Brandt warned that this should not be taken as a signal for further upside in the meme cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cA common mistake among novice traders who consider the end of a bear market as automatically the start of a bull market. This assumption is often incorrect,\u201d added the technical analyst.<\/p>\n<\/blockquote>\n<p>In the past week, Dogecoin&#8217;s price has risen about 100%, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\">CoinGecko<\/a>. The meme cryptocurrency crossed the $0.1 mark for the first time since May. Its market capitalization exceeded $16 billion, placing it eighth in the ranking.<\/p>\n<p>Dogecoin started rising on October 27 after Elon Musk <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-hints-at-closing-twitter-deal\">posted<\/a> a video of his visit to Twitter&#8217;s headquarters. On the next day the meme cryptocurrency <a href=\"https:\/\/forklog.com\/en\/news\/dogecoin-rises-nearly-10-after-elon-musks-twitter-purchase\">added another 10%<\/a> after <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-closes-deal-to-buy-twitter\">the billionaire&#8217;s purchase of the social network<\/a>.<\/p>\n<p>Musk is actively promoting the meme cryptocurrency. In April he proposed reducing the cost of Twitter Blue and giving users <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-proposes-paying-for-twitter-blue-with-dogecoin\">the ability to pay for the premium service in DOGE<\/a>.<\/p>\n<p>In June, Musk <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-will-continue-to-back-dogecoin-despite-the-bear-market\">confirmed his support for Dogecoin<\/a>, despite the bear market. He then said that Tesla would continue <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-says-tesla-begins-selling-merchandise-for-dogecoin\">to sell goods for DOGE<\/a> and SpaceX would soon follow suit.<\/p>\n<p>In October, Brandt <a href=\"https:\/\/forklog.com\/en\/news\/peter-brandt-mocks-bitcoin-supporters-and-laser-eyes\">mocked Bitcoin supporters<\/a> for using \u201claser eyes\u201d on Twitter avatars and said that the first cryptocurrency, bought in 2021, has become unprofitable today.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A technical analyst and head of Factor LLC Peter Brandt wrote about the end of the downward cycle of the meme cryptocurrency Dogecoin (DOGE).<\/p>\n","protected":false},"author":1,"featured_media":69316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,99,1420],"class_list":["post-69315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-dogecoin","tag-peter-brandt"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69315"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69315\/revisions"}],"predecessor-version":[{"id":69317,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69315\/revisions\/69317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69316"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}