Monday, December 5, 2022
HomeCrypto NewsMarketPeter Brandt Says Every Bitcoin Purchase in 2021 Is In Loss, Bollinger...

Peter Brandt Says Every Bitcoin Purchase in 2021 Is In Loss, Bollinger And Saylor Respond

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Brandt trolls the laser eye movement once again.


In a tweet on Friday, veteran trader Peter Brandt called out people who donned the famous laser eyes, wondering if any of them would have expected all purchases in 2021 to be in the loss by this time.

“OK, let’s be honest,” tweeted Brandt. “How many ppl who sprouted laser eyes in 2021 would have believed that every BTC purchase the entire year would presently be a losing trade?”

Following up on the tweet, Brandt concedes that he would never have believed at the time that the asset would trade below $20k again.

John Bollinger And Michael Saylor Respond

Unsurprisingly, Brandt’s scathing tweets have attracted various responses from crypto Twitter. For example, fellow veteran trader and contributor to the field of technical analysis John Bollinger disclosed that he felt Brandt’s comments were a little harsh, as according to the analyst, people learn from mistakes, not from being scolded.

Meanwhile, MicroStrategy’s Michael Saylor asserted that the laser eyes represented a long-term belief in Bitcoin based on its ethical, technical, and economic value proposition. Furthermore, the Bitcoin evangelist noted that other major financial assets are also underwater. 

A Bit Of Background On The Laser Eyes

While Saylor’s assertions may be what the laser eyes have come to represent, it bears mentioning that its original intent is nothing so sophisticated.

The iconic symbolism was created in February 2021 by a Bitcoin memer known only as CHAIRFORCE. The meme creator and his group were simply lovers of Bitcoin who loved Bitcoin and, maybe more so, loved trolling others who did not, as per a Bitcoin Magazine piece written by the creator.

Notably, CHAIRFORCE and his friends rolled out the profile pictures following a spark of inspiration when Bitcoin clinched the $50k price point with the hashtag #LaserRayUntil100K.

Brandt’s Bitcoin Outlook

It bears mentioning that Bitcoin is yet to clinch the long-desired $100k price point. However, the asset has remained constrained by increasingly complicated macroeconomic conditions that have made investors risk off.

Notably, Brandt, who has a history of accurately predicting the price action of the leading asset in June, expressed the belief that Bitcoin could drop to $12k.

Despite asserting that he is a long-term bull and Bitcoin holder, the veteran trader has continued to caution that the leading asset has as much chance of going to zero as it has of going to the moon. According to Brandt, it is very likely that human ingenuity will, in the future, provide us with something that surpasses Bitcoin and makes the asset obsolete in the future.

Brandt once donned a mild version of the laser eyes as an expression of his skepticism.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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