Cryptocurrency correction as Peter Brandt, a veteran commodity trader, tweeted. He’s giving a warning that Bitcoin and other cryptocurrencies will have a “come to Jesus” correction one day.
The legendary chartist adds that chartist will lose fortunes and life savings; singling out people who don’t understand crypto and highly leveraged market participants as the most significant future losers.
Brandt’s growing frustration with “laser eyes,” a meme popular with Bitcoiners; even made him side with American comedian Bill Maher who lashed out at crypto and this year’s Oscars during the latest episode of his show:
Whether you believe BTC is the monetary savior of the world or a computer program Pet Rock, I think you might laugh AT or laugh WITH this video clip as hard as I did.
Cryptocurrency past calls
Concerning Brandt’s cryptocurrency warnings, overdramatic tweets are very on-brand for Brandt. He has a track record of prescient predictions. In January 2018, Bitcoin’s previous parabolic advance had been violated, which portended the start of a brutal bear market.
Some of Brandt’s price calls, however, went wrong. Following the pandemic-driven crash in March 2020, he claimed that Bitcoin was more likely to go to zero than $100,000.
The largest cryptocurrency is up almost 1,200 percent since Brandt’s doomy tweet.
Brandt’s Predicted That XRP Could Hit New All-Time High
Brandt has noticed a technical pattern that points to a new XRP all-time high.
Those who invested in the XRP craze around the market top in January 2018 may eventually have their time after staying submerged for a long time.
As claimed by Peter Brandt, a veteran commodity trader, the Ripple-connected alt could shortly make a sprint for a new all-time high after forming a bullish inverted head-and-shoulders pattern on the weekly chart.
This possible inverted H&S with stunted RS would indicate prices a boatload higher (new ATHs). Brandt attributes the XRP rally to Ripple’s recent court win against the SEC and “the madness of crowds.”
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