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?”
OK, let's be honest. 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? pic.twitter.com/jbRI6gc92p
— Peter Brandt (@PeterLBrandt) October 7, 2022
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.
People learn from their mistakes, not from being chided.
— John Bollinger (@bbands) October 7, 2022
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.
Laser eyes signifies a long term commitment to #bitcoin based on its ethical, technical, and economic superiority to alternate assets. All major financial asset classes have been losing trades over the past year. That is why we don’t trade, we #hodl.
— Michael Saylor⚡️ (@saylor) October 7, 2022
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.
That's exactly what I said when I came up with the idea of laser eyes. pic.twitter.com/fXQknaNWvO
— ℂℍ𝔸𝕀ℝ𝔽𝕆ℝℂ𝔼 🦡 (@CHAIRFORCE_BTC) October 7, 2022
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.
I own Bitcoin and accept most of the current bullish narrative
However, we go out on a ledge to assume that $BTC will forever represent the pinnacle of human ingenuity and achievement and that humanity will not surpass its essentials pic.twitter.com/dsy3VjKrlB
— Peter Brandt (@PeterLBrandt) July 21, 2022
Brandt once donned a mild version of the laser eyes as an expression of his skepticism.