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Legendary Trader Peter Brandt Slams Ethereum: Details
Yuri Molchan
Veteran Commodity Trader Peter Brandt Slams Ethereum, Praises Bitcoin
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Old school commodity trader Peter Brandt posted a tweet, engaging the Bitcoin community in a discussion about BTC patterns and the cryptocurrency’s potential price movements.
In the comments to his tweet, he also harshly criticized the second largest cryptocurrency, Ethereum.
Bitcoin Won’t Hit $44,000, Says Brandt
Peter Brandt reached out to his followers on the X platform to get their opinions on a Bitcoin Double Top pattern he spotted on a chart. Brandt apparently decided to test the community by asking them if Bitcoin did he complete the Double Top or not.
He warned that if the answer is yes, the minimum price target for BTC would be $44,000, as this is a reversal pattern.
In the comments thread, Brandt admitted that the model is not yet complete for Bitcoin as not all conditions have been met.
Peter Brandt Criticizes Ethereum, Defends Bitcoin
Sypheon Online founder Ferruh Danaci commented on Brandt’s tweet, criticizing Bitcoin and praising Ethereum. He called Bitcoin “useless crap” and “a useless toy for whales,” while believing Ethereum is real.
In turn, legendary trader Brandt referenced ETH using three piles of poop emojis.
Peter Brandt generally only supports BTC, emphasizing his dislike of Ethereum in several tweets earlier this year. However, he has admitted that as a trader he would also trade ETH if there was a chance to profit from it.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many ways. He has written for several media outlets about cryptocurrencies. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.