Legendary Trader Peter Brandt on Bitcoin $100,000: ‘I Didn’t Understand The Big Deal’

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As a seasoned investor with over four decades of market experience under my belt, I find myself both intrigued and amused by the current Bitcoin price surge surpassing $100,000. Peter Brandt’s nonchalant attitude towards this historic milestone is reminiscent of an old-timer who’s seen it all before – a big yawn indeed!

Experienced trader Peter Brandt, active in the field since 1975, voiced his thoughts on Bitcoin’s recent price surge surpassing $100,000. Despite being a seasoned professional, he expressed confusion about the general excitement surrounding this milestone, casually mentioning that for him, the six-figure value of Bitcoin is simply another numerical figure.

In addition, Brandt casually referred to the large moonstone as “a big snooze,” expressing his confusion over the fuss surrounding its $100,000 price tag. However, Brandt remained tight-lipped about his views on Bitcoin’s new record high. Interestingly, he has consistently favored Bitcoin over other cryptocurrencies like Ethereum or XRP and has often criticized Ethereum compared to Bitcoin. In a recent tweet, Brandt even suggested that the price of Bitcoin might not stop at $100,000.

Bitcoin $100,000 $BTC
Just another number
A big yawner IMO
I did not understand the big deal of 100,000

— Peter Brandt (@PeterLBrandt) December 5, 2024

There was a quick reaction from the Bitcoin community following Brandt’s tweet, with many suggesting that $100,000 is significant due to “round numbers” and “human psychology.” Others simply remarked, “That means you can trade 1 BTC for 100,000 US Dollars. Quite extraordinary!

Bitcoin influencers react to new ATH

In just the last day, Bitcoin surged by around 9.31%, reaching an unprecedented peak and breaking through the $100,000 mark for the very first time, climbing from $94,835 to its new record-high.

Nevertheless, numerous Bitcoin analysts, primarily investors rather than traders (although there are exceptions), such as Anthony Pompliano and Robert Kiyosaki, emphasize the significance of Bitcoin surpassing its historical resistance level and encountering what is considered the largest sell wall ever seen.

As a crypto investor, I firmly believe that surpassing the recent milestone holds significant psychological weight. This breakthrough could trigger a wave of interest among the once-skeptical Baby Boomers. Intrigued by the potential, they might start purchasing Bitcoin as a hedge against missing out on a potentially monumental opportunity.

Changpeng Zhao, the founder and ex-CEO of Binance exchange, tweeted an unusual observation: Unlike many others, he didn’t significantly profit from this Bitcoin price spike because the amount of Bitcoins he currently owns has stayed consistent. This suggests that he may not have purchased any more BTC during the recent market dips this year.

Samson Mow, the boss at JAN3, has reinforced his previous forecast that Bitcoin will soar to an astounding $1 million per coin following its reach of $100,000. In a recent tweet, he encouraged Bitcoin enthusiasts to add “laser eyes” back to their profile pictures as a reminder and symbolism until Bitcoin attains the value of $1 million.

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2024-12-05 16:25