Peter Brandt: US crypto bill to have minimal impact on BTC price

Veteran U.S. trader Peter Brandt has predicted that the passage of the U.S. crypto market structure bill, the CLARITY Act, by Congress next January would have a minimal impact on the price of Bitcoin. In an interview with Cointelegraph, Brandt stated that while the legislation is a necessary measure, it is not an event that would redefine Bitcoin's value. He acknowledged the bill is positive as it would bring greater clarity to the regulatory framework for cryptocurrencies. However, he suggested its passage might only slightly mitigate bearish outlooks and is unlikely to serve as a complete bullish catalyst. Brandt previously predicted in October that BTC could fall to $60,000, comparing its price action to the soybean market of the 1970s.