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- Renowned commodities trader Peter Brandt celebrates his 50th trading anniversary with a bullish prediction for Bitcoin.
- Brandt praises Bitcoin as “the trade of a lifetime”, while criticizing altcoins and meme cryptos.
- Brandt predicts Bitcoin could reach $125,000, highlighting its unique qualities and price behavior.
Commodities trader Peter Brandt marks his 50th trading anniversary with a bullish Bitcoin prediction, while criticizing altcoins and meme cryptos. Brandt predicts Bitcoin could reach $125,000, citing its unique qualities and price behavior.
Peter Brandt’s 50th trading anniversary
2024 marks the 53rd anniversary of the first futures market trade, and Peter Brandt’s 50th trading anniversary. Brandt praises Bitcoin as “the trade of a lifetime”, stating “there has never been and may never be another market like Bitcoin.” Brandt’s first trade was futures contracts of pre-1964 Silver quarters and dimes on the New York Mercantile Exchange in 1971. Throughout his career, he has traded various futures contracts, from Corn to Gold, and in recent years, added Bitcoin and some other cryptos, like Ethereum, to his portfolio. However, he often criticizes altcoins, and Bitcoin is the only crypto he believes in as an asset.
Savvy trader praises Bitcoin, bashes altcoins and meme cryptos
In a blog post, Brandt emphasizes the uniqueness of the Bitcoin market, describing altcoins and meme coins as “proliferations” that “owe their existence to Bitcoin.” Brandt highlights several unique qualities of Bitcoin, including its non-hackable nature, limited quantity, global acceptance, trackability, and almost instant transactional capability. He also notes Bitcoin’s unique price behavior, describing it as “an attempted hostile takeover of the world’s currency system.”
Bullish BTC prediction – $125,000
Brandt also discusses major Bitcoin price advances since its inception, noting that they are often parabolic in nature. According to the Bitcoin chart shared by Brandt, Bitcoin has been rising irreversibly since its inception, even major corrections did not break the ascending BTC line. The current ascending period, which started in late 2022, continues now, and Brandt predicts the price could reach as high as $125,000.
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Conclusion
As Peter Brandt celebrates his 50th trading anniversary, he remains bullish on Bitcoin, predicting a potential price of $125,000. While he criticizes altcoins and meme cryptos, he praises Bitcoin for its unique qualities and price behavior, describing it as “the trade of a lifetime”. With Bitcoin’s continuous rise, Brandt’s prediction may not be far off.
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