As for his predictions, the famous trader expects the crypto market to enter a large correction this year.
It seems that despite owning crypto, Peter Brandt does not expect Bitcoin to repeat the astounding 1.4 million-fold rise that the world’s largest crypto has staged since Jan. 5, 2010, when it traded at $0.07 (while, now, it is changing hands above $99,000 after reaching an all-time high of over $108,000 in mid-December).
Peter Brandt tweeted that “many people are expecting a repeat,” especially millennials and people from the Z generation. They “expect trash_coins to be their redemption & ticket to riches,” Brandt stated. He revealed that while he holds Bitcoin and Solana, what he prefers to buy now for big profits is not crypto but “Kleenex stock,” produced by Kimberly & Clark. Perhaps he was referring just to the stock market in general, offering the name of this company as an example. Brandt even assumed that some crypto holders might begin calling him a “crypto hater” after that, but he does not seem to mind that in any degree.
Brandt believes that Bitcoin is in for a 50% correction, while he expects altcoins to crash by 90% and meme coins to lose 100% of their value. He did not specify the time frame when it is likely to happen, but obviously, he was talking about the near future, likely about 2025, which has just begun.
Over the weekend, Bitcoin recovered by 3.32%, rising from $96,000 to the $92,255 level, where it is currently changing hands.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
