Peter Brandt Updates Bitcoin, As Crypto Market Shows Signs Of Recovery
According to trader Peter Brandt, who gained fame in the crypto space after accurately predicting Bitcoin’s 2018 collapse, is looking into Bitcoin (BTC) and what lies ahead for it.
The veteran trader says that Bitcoin seems to be forming a “very intriguing” set up, after bouncing from $38K to above the $42K range.
Brandt shared with his 626K followers on Twitter a chart which shows that BTC has risen above a historic level of support and resistance at $41.8K while printing a higher low after bottoming out around $33.5K level.
“Bitcoin has a very intriguing chart set up at this time. Getting ready to pull the trigger.”
Brandt talked about Bitcoin being the leader of digital assets and said that traders who now move their BTC holding into altcoins might be disappointed going forward.
Funny thing about ppl who argue against original tweet claiming "fixed supply" But really? What about endless supply of #8hitcoins and NFTs Eventually many many ppl will be mad at themselves for moving capital from $BTC to other crypto assets$BTC is KING
However, as a trader, Brandt says he doesn’t like ‘hodling‘ (holding) Bitcoin, and he explains why.
“I’m NOT a fan of hodling Bitcoin. Bitcoin has a history of 80% declines, 4 in 11 years A hodler needs 400% each time to return to ATH (all-time highs).
I hate having to make the same money over and over and over again. Hard enough the first time.”
