Peter Brandt Says ‘Bitcoin Investors Who Are Waiting For Price Dip To $6000 Have Missed Their Opportunity’
Peter Brandt Says ‘Bitcoin Investors Who Are Waiting For Price Dip To $6000 Have Missed Their Opportunity’
January 19, 2020
Peter Brandt Says ‘Bitcoin Investors Who Are Waiting For Price Dip To $6000 Have Missed Their Opportunity’
Peter Brandt Says ‘Bitcoin Investors Who Are Waiting For Price Dip To $6000 Have Missed Their Opportunity’
January 19, 2020

Peter Brandt, the veteran trader, says that Bitcoin (BTC) investors who are waiting for a price dip to even $6,000 have “missed” their opportunity already.

On January 17, it has been reported that the 40-year market trader said that contrary to what some believe, BTC/USD has already hit its floor.

Brandt summarized:

“They all now want to sit and buy a break back to $6,000 or $5,000 and they’ve missed the bottom — and during that bottom, I think you had a lot of people accumulate with strong hands.”

He continued:

“The weak hands are out; the strong hands own it.”

As it has been reported, his personal sentiment has undergone a change since late 2019, as recently as December; he had warned that there remained a chance for Bitcoin to put in lower lows in 2020.

ALSO READ :  Crypto Community Continues To Help Fight The Coronavirus Outbreak By Donating Medical Supplies To Hospitals

In early 2018, one month after Bitcoin reached its all-time highs of $20,000, Brandt warned that markets would not be going any higher and that an 80% retracement was likely. BTC/USD hit local lows of $3,100 — 84.5% lower — a year later.

However, Brandt suggested that the danger has now subsided, in comments echoed in the discussion by fellow trader Alessio Rastani.

He advised:

“I think anybody who is interested in what Bitcoin has to offer has to have at least 10-20% of an ownership position relative to the capital that they could commit to Bitcoin in a bigger perspective.”

Likewise, Bitcoin has sealed monthly gains of around 35%, with 2020 progress alone at 25%. Markets reached local highs of $9,000 on January 17 (Friday), before encountering resistance, which coincides with the 200-day moving average price, something which has historically stifled bullish progress.

Thus, commentators have said that the latest statistics are currently suggesting the interest in Bitcoin, which extends beyond lay consumers, volume surges on futures markets signal institutional commitment as well.

ALSO READ :  GOOD NEWS: Now Is A Great Time To Visit Cointelegraph’s Unblocked Facebook Page

Source: cointelegraph.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Money on Chain Launches TEX With A Unique Twist

Money on Chain Launches TEX With A Unique Twist

Money on Chain (DeFi protocol), a lending platform and stablecoin issuer based on Bitcoin (BTC) sidechain RSK, has announced the launch of TEX, an automated token swap platform based on an order book, with a unique...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.