Savvy Trader Peter Brandt: ‘I Own Bitcoin and SOL’, But Here’s Big Catch

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Experienced commodities trader Peter Brandt, active in the trading industry since the 1970s, frequently uses his social media account (X platform) to share intriguing cryptocurrency forecasts with the online community and disclose which virtual currencies are part of his personal portfolio.

Speaking from my own perspective as a crypto investor, I’ve been following a well-known trader’s analysis, and he anticipates that the cryptocurrency market could experience a significant downturn in 2022.

Brandt reveals his crypto holdings but here’s twist

Peter Brandt openly disclosed that he possesses two of the leading cryptocurrencies: firstly, Bitcoin, often referred to as the original one; secondly, Solana (SOL), a contender frequently compared to Ethereum, aspiring to be another “challenger” to ETH‘s dominance.

It appears that although Peter Brandt has crypto in his possession, he does not foresee Bitcoin replicating the extraordinary 1.4 million-fold increase it experienced since its initial trading price of $0.07 on January 5, 2010 (currently trading above $99,000 and reaching an all-time high of over $108,000 in mid-December).

Back on January 5, 2010, the value of Bitcoin was just $0.07.
In the past 15 years, the price of Bitcoin has increased over 1.4 million times.
Despite this, many people are still hoping for a repeat of that early growth.
And a lot of young investors believe that worthless cryptocurrencies will be their path to wealth and salvation.
Feel free to label me as negative (I do own Bitcoin and SOL), but I’m investing in Kleenex stock instead.

— Peter Brandt (@PeterLBrandt) January 6, 2025

Peter Brandt expressed on Twitter that many individuals, particularly millennials and Generation Z, anticipate a reoccurrence of certain events. They believe that “junk coins” could offer them salvation and wealth, as Brandt put it. He disclosed that he currently owns Bitcoin and Solana, but for substantial returns, he’s choosing to invest in the shares of Kimberly & Clark, better known as Kleenex stock. It appears that Brandt may have been discussing the broader stock market, using this company as an example. Brandt also suggested that crypto enthusiasts might label him a crypto skeptic following this statement, but it seems he does not care about their opinions in the slightest.

Big BTC correction, huge altcoin and meme coin correction coming, Brandt says

Today, a seasoned commodities dealer and cryptocurrency investor shared some notable bearish forecasts about major and minor cryptocurrencies, leaving the crypto community in awe.

Speaking from my five decades of market experience, some individuals are likely to prosper moving forward. However, there is a risk that an excessive number of speculators will over-leverage themselves, fail to recognize the peak, and suffer substantial losses during the next significant corrections. This could potentially involve a 50% drop in Bitcoin, a 90% decline in altcoins, and a 100% reversal for meme-based assets.

— Peter Brandt (@PeterLBrandt) January 6, 2025

According to Brandt’s perspective, Bitcoin might experience a decrease of around 50%, whereas altcoins and meme coins are predicted to plummet by approximately 90% and 100% of their current value respectively. He did not provide an exact timeline for these potential events, but it seems he was referring to the near future, possibly within the next few years, such as the year 2025, which has recently commenced.

Over the course of the weekend, Bitcoin experienced a 3.32% increase, moving up from approximately $96,000 to around $92,255. At present, trades are being conducted at this level.

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2025-01-06 14:50