Peter Brandt, a veteran trader, criticized investors of Bitcoin (BTC), the largest cryptocurrency. Brandt claimed that there is no point in holding Bitcoin for a long time. This upset the “hodlers” who did not sell their Bitcoin for a long time. As Kriptokoin.com, we provide the details…
Bitcoin hodlers hit by comments by Peter Brandt
Bitcoin investors are often hesitant to sell due to anticipated regret. Considering that cryptocurrency trading is more complex, many traders choose to stick with “hodling”. That is, he would rather hold on to the cryptocurrency, but Brandt says Bitcoin’s cycle peaks are “easily recognizable.” Therefore, given the clarity of market peaks, the expert believes that the risk of an 80 percent correction makes no sense to investors, emphasizing that the largest cryptocurrency “is not a religion”.
Brandt, who came to the fore with Bitcoin analyzes before, described BTC for a long time. He said there was no point in holding on for a long time. The trader explains that he does not like “making the same money over and over”. Meanwhile, he suggests that Bitcoin must rise above 400 percent to recover from an 80 percent drop.
How can peak levels be determined in Bitcoin?
Brandt made comments on how to determine peak levels in Bitcoin in another tweet he posted. The expert referred to the “laser eyes”, which he had talked about before. “Laser eyes” became a “community” formed by people who are bullish on Bitcoin on Twitter, adding lasers to their eyes on the social media platform. Brandt claims that “the laser eyes that Bitcoin fans add to their Twitter profiles in anticipation of $100,000” can be your guide to top signal detection.
Bitcoin recovery meanwhile, as the cryptocurrency reaches $45,000. then it stopped. However, Jurrien Timmer, global macro director at Fidelity Investments, stated that the largest cryptocurrency has recently formed a double-bottom pattern, which could be a buy signal for traders. Bitcoin (BTC) is trading at $43,481 at the time of writing. It has dropped 1% in the last 24 hours.
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