Bitcoin Discount? Peter Brandt On Why You Shouldn’t Buy The Dip
Bitcoin has been dropping consistently for the past week and the crypto market has lost over $500 billion following this dip. Like with any crash, there have been the expected calls of ‘buy the dip’ from investors who believe that the dips are only temporary and that the digital asset will soon recover all of its lost value. While this advice is sometimes sound, there is no doubt that there are some drawbacks with it, which could range from adding to a losing position that ends up losing more, to sinking more money in projects that may already be doomed to fail. Veteran trader Peter Brandt....
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Veteran trader Peter Brandt has shared “a sacred trading rule” he uses in response to a comment about buying bitcoin as the price of the cryptocurrency continues to fall. “Never add to a losing trade,” he affirmed. Peter Brandt Offers Trading Advice Veteran trader Peter Brandt has a trading suggestion for anyone considering buying the dip. Brandt has been a futures and FX career trader since 1975. He is a chartist and the author of the Factor Report. He trades a variety of markets, including Dow futures, bonds, corn, crude oil, European wheat, Osaka Dow, U.S.....
Veteran trader Peter Brandt has implied in a tweet that bitcoin will go through deep price corrections before it gets to the $200,000 mark. Brandt points to the 2015-17 bull run when bitcoin went through similar corrections about nine times as the precedent the crypto asset might follow. More Corrections Expected Consequently, Brandt is asking his Twitter followers to predict the number of similar 30% price corrections that they expect to see before BTC ultimately gets to the $200,000. Already, as Brandt explains in the tweet, the crypto asset has gone through one such correction since....
Veteran trader Peter Brandt has warned that bitcoin’s price corrections have taken many months in the past and it may take some time for the price of the cryptocurrency to hit another all-time high. He criticized bitcoin’s proponents for constantly hyping the crypto regardless of the price.
Peter Brandt Warns It May Take Some Time for Another Bitcoin Peak
Veteran trader Peter Brandt cautioned investors Thursday that it could take some time for the price of bitcoin to reach another all-time high.
Brandt has been a futures and FX career trader since....