Trader who called Bitcoin 2018 Collapse warns BTC of an “excellent” speculative asset that can be robbed
The veteran trader who found Bitcoin’s bear market collapse in 2018 says that Bitcoin (BTC) serves a completely different purpose than what has been announced.
Peter Brandt tells his 663,000 followers that although he is a long-term BTC bull, he believes that Bitcoin is a purely speculative game rather than an investment due to the number of crashes it has seen in the last 12 years.
Brandt also says he does not consider BTC as a hedge against inflation or a value stock, but notes that it probably has a massive upside in the long run due to limited supply, high security, acceptance rate and transferability.
“Bitcoin is NOT a hedge against inflation and is not a store of value either. It is pure speculation ̵[ads1]1; but a really big reward for risking speculation on it …
[BTC is] Pure speculation, but probably unique in the long run because:
1. People accept it
2. Notch safe (for now)
3. Transferable
Limited offer. ยป
The veteran strategist then says that while BTC is currently unsurpassed as for the features it offers, it may one day be robbed.
“Nothing better than BTC for the features it has. But are we really willing to assume that nothing like / better will ever be invented? Is BTC the pinnacle of human genius?”
ONE Poll conducted by Brandt reveals that approximately 54% of the 9,247 respondents believe that BTC has not yet bottomed out.
Bitcoin is changing hands for $ 21,196 at the time of writing, an increase of 3.5% on the day.
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Disclaimer: Opinions expressed by The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl participates in affiliate marketing.
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