Bitcoin continues to be the focus of many cryptocurrency investors. According to the famous trader’s latest post, Brandt’s biggest investments are in Bitcoin (BTC). Here are the details…
Peter Brandt has invested the most in Bitcoin
According to Trader Peter Brandt’s own post, one of the biggest positions he holds is Bitcoin. While explaining this, Brandt promoted a clip from the show “Real Time with Bill Maher”. In this clip, the host of the show was making fun of the cryptocurrency industry and certain coins, including Dogecoin (DOGE). Brandt added that it is funny that just a few weeks after the episode aired, Bitcoin reached a local high of $57,000. After senior traders turned against the crypto community, he explained that despite losing more than half of its value in the past few months, Bitcoin is still one of its biggest positions.
I think I struck a raw nerve with some people who are still long Bitcoin from double the present price.
For the record, Bitcoin is one of my personal largest ownership positions— Peter Brandt (@PeterLBrandt) August 4, 2022
Brandt later added that he used a different risk management strategy for coins issued in late 2018. Another big position for Brandt at this point was gold. 60 percent of its portfolio is seen in gold and Bitcoin. These are seen as a hedge against all USD-denominated investments.
How is the market today?
So how does Bitcoin feel in the market today? Despite all the negativity in the cryptocurrency market, digital gold is showing some signs of strength as BTC bounces back above the $23,100 price threshold. Bitcoin has been moving in an uptrend for the past 24 days. Therefore, we can say that the first cryptocurrency is in a short-term uptrend. The primary cryptocurrency surged above $24,500 last week after the recent rate hike by the US Federal Reserve (FED) and US President Joe Biden’s refusal to acknowledge that the country has entered a recession. It had jumped to the highest price level since June 13.
But the asset failed at that point, returning to $23,000 where it spent most of the weekend. The start of the new week started with a small drop and jumped to $24,000. However, BTC has not been able to recover this level. Thus, it fell back to $23,000. He is sitting there now. Therefore, its market cap is once again below $450 billion. On the other hand, Binance Coin continues to record local tops. A 5% increase in the last 24 hours pushed BNB to around $320.
Ripple, Cardano, Solana, Polkadot, Dogecoin, Shiba Inu, Polygon, and Avalanche are also in green on a larger scale. As we reported as Kriptokoin.com, FLOW exploded by about 60 percent a day after META (formerly Facebook) announced that it would integrate the Flow Blockchain.
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