Renowned analyst and trader Peter Brandt has once again trolled the “laser eye” movement of the Bitcoin (BTC) community. To those who believed that BTC would go to $100,000, the analyst asked “who believed they were going to be in losses right now?” she asked. Names such as Michael Saylor and John Bollinger reacted to Brandt’s tweet. Here are the details…
Peter Brandt addresses “laser-eyed” Bitcoin supporters: Critics respond
Veteran trader Peter Brandt addressed people with “laser eyes” in their Twitter profile photo in a tweet on Friday. He wondered if anyone expected all purchases in 2021 to be at a loss by this time. “Okay, let’s be honest,” he tweeted. “How many people who added laser eye to their profile picture on Twitter in 2021 believed they would be at a loss right now with what they bought all year?” she asked.
Following the tweet, Brandt admits that he himself did not believe at the time that the asset would trade below $20,000 again. Not surprisingly, Brandt’s harsh tweets drew mixed reactions from the cryptocurrency community on Twitter. For example, John Bollinger, a seasoned trader and technical analysis contributor, explained that Brandt’s comments were somewhat harsh. Because, according to the analyst, people develop not by being scolded, but by learning from their mistakes.
People learn from their mistakes, not from being chided.
— John Bollinger (@bbands) October 7, 2022
Meanwhile, Michael Saylor of MicroStrategy stated that laser eyes are based on the ethical, technical and economic value proposition. He claimed it represented a long-term belief in Bitcoin. Also, the Bitcoin evangelist said that other major financial assets are currently on the decline.
Laser eyes signifies a long term commitment to #bitcoin based on its ethical, technical, and economic superiority to alternate assets. All major financial asset classes have been losing trades over the past year. That is why we don’t trade, we #hodl.
— Michael Saylor⚡️ (@saylor) October 7, 2022
How did “laser eyes” come about?
The iconic symbolism was created in February 2021 by a Bitcoin member known simply as CHAIRFORCE. In particular, CHAIRFORCE and his friends came up with the hashtag Bitcoin #LaserRayUntil100K. This hashtag was opened with the start of excitement that $100,000 will be seen once BTC crosses the $50,000 price point. However, Chairforce’s tweet in response to what Michael Saylor said above shows that there isn’t really a deep thought behind the trend.
https://twitter.com/CHAIRFORCE_BTC/status/1578532158955614208
Brandt’s BTC comment
It is worth noting that Bitcoin has not yet surpassed the $100,000 price point. However, the asset was constrained by increasingly complex macroeconomic conditions that put investors at risk. Brandt expressed his belief that Bitcoin could drop to $12,000. As we reported on cryptokoin.com, Brandt correctly predicted the price action of BTC in June.
#bitcoin
I own Bitcoin and accept most of the current bullish narrative
However, we go out on a ledge to assume that $BTC will forever represent the pinnacle of human ingenuity and achievement and that humanity will not surpass its essentials pic.twitter.com/dsy3VjKrlB— Peter Brandt (@PeterLBrandt) July 21, 2022
The seasoned trader is a long-term bull and Bitcoin owner. But he continued to warn that the leading asset has as much chance of going to zero as the chance of going to the moon. According to Brandt, “human creativity” is very likely to provide something in the future that surpasses Bitcoin and renders the asset obsolete in the future.
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