Peter Brandt, a prominent trader with Bitcoin predictions, came to the fore with criticism of Binance, one of the largest cryptocurrency exchanges with its trading volume. Here are the details…
Peter Brandt responds to Binance CEO
In a tweet thread Friday, Peter Brandt responded to CZ’s tweet, “Blockchain is a permanent public record,” CEO of leading crypto exchange Binance. He then accused the client of executing his transactions at the wrong prices. In response to CZ’s tweet, Peter said:
No dear???? Is this really true??? Does that include the dreaded sell stop orders that Binance offers to clients under $40,000 on other exchanges, or did you just show them so you don’t share those prices in your daily data record?
The famous analyst tweeted in response to a statement by Binance’s Changpeng Zhao that suggested the immutable nature of Blockchain. According to other members of the crypto community, Brandt confuses the meaning of Blockchain with exchanges. But Brandt argues the relevance of what he said remains. As a result, Brandt said, “I understand the difference between blockchain and exchanges. I mean, it was horrific abuse that Binance imposed on its customers by matching bad sell orders with its own book.” It’s worth noting that at the time of writing, there has been no response from Binance or CZ on the matter.
Brandt mercilessly criticizes Bitcoin and altcoin space
Along with his reputation as a knowledgeable technical analyst, Peter Brandt has also built a reputation as an ardent critic of crypto exchanges and the cryptocurrency space. In the past, the market analyst has frequently warned crypto not to keep their holdings on Coinbase, as he believes the exchange does not follow best practices and that its holders could lose their holdings.
As we reported on Kriptokoin.com, Brandt also frequently warned crypto investors to invest in altcoins. For example, after the Terra crash, the trader reiterated this belief, saying that “crypto is Bitcoin and Bitcoin is crypto”. Meanwhile, despite these statements, Brandt has also frequently warned that Bitcoin still has a 50 percent chance of going to zero or to the moon. Brandt’s latest chart analysis of the leading digital asset predicts further downside.
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