Peter Brandt: “Whoever bought bitcoin in 2021 failed”

Analyst Peter Brandt called BTC purchases in 2021 unprofitable and ridiculed bitcoin supporters for using images with laser eyes, which provoked an angry reaction on Twitter.

During the cryptocurrency bull market in 2021, many bitcoin maximalists began posting photos of themselves with red glowing eyes on social media. This means that the owner of bitcoin believes in the growth of the first cryptocurrency. The trend began to gain popularity, but trader Peter Brandt (Peter Brandt), who prefers traditional assets, was one of the first to compare this movement with a sectarian cult.

Brandt reached out to bitcoin owners who bought BTC last year and “put on laser eyes.” He asked them if they could then believe that every purchase of bitcoin during the year would be unprofitable? Brandt added that he could not even imagine that in October 2022 the first cryptocurrency would trade below $20,000.

Brandt’s tweet was immediately responded to by former MicroStrategy CEO Michael Saylor, who has long been known in the crypto community as a bitcoin enthusiast. He responded that the laser eyes represent “a long-term commitment to bitcoin, which is based on its ethical, technical and economic superiority over alternative assets.” All major financial asset classes have been losing money over the past year, which is why it’s important not to trade, but to hold for the long term, Saylor said.

Users supported Saylor, calling Brandt’s statements vile. They also criticized him for using technical indicators in an attempt to predict the future movement of the price of a crypto asset. As one user wrote, predicting short-term rate movements is a stupid idea. Alex Gladstein, director of strategic development at the Human Rights Foundation (HRF), recalled that the idea behind laser eyes was to boost bitcoin to $100,000, and the flash mob will not subside until bitcoin hits that mark.

Brandt has been repeatedly arguing on Twitter about bitcoin. A few months ago, he got into a “fight” with Michael Saylor over the amount of electricity consumed by bitcoin.

Source: Bits

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