Veteran trader Peter Brandt considers every bitcoin (BTC) acquired in 2021 due to loss. He mocks crypto traders still using the same crypto laser eyes. As a result, his tweet received a response from bitcoiners on Twitter. So a very famous bitcoiner called Michael Saylor reminded Brandt what this meme means. John Bollinger, technical analyst and inventor of the Bollinger Bands technical indicator, said Brandt’s tweet is not malicious.
BTC purchases in 2021: Lost bet?
Veteran trader Peter Brandt has teased bitcoiners using laser-eyed crypto memes. This showed that any bitcoin purchase in 2021 is a losing trade. However, he admits that he himself could not have predicted that the asset would trade below $20,000 in October 2022.
Michael Saylor former CEO of Microstrategy replied to his tweet. This shows that laser eyes show a long-term commitment to bitcoin based on its ethical, technical and economic superiority over alternative assets. All major financial asset classes lost trades over the past year. That is why Michael Saylor answers that bitcoiners do not trade, but invest for the long term.
Saylor’s remarks were echoed by another Twitter user, Stephen Livera, who highlighted Brandt’s use of technical indicators when trying to understand an asset’s future price action. This one develops an interesting argument that considering predicting price movements in the short term is a vain ambition. On the other hand, the real goal is to grow and advance the movement.
The BTC community for
The trader responsible for this controversy wants to question the community around bitcoin, which he considers a sect. During the 2021 cryptocurrency bull market, many BTC pros started adding red laser eyes to their social media profile picture. The use of the red laser eye then indicated the owner’s bullishness. As the movement grew in popularity, Brandt was one of the first prominent traders to question the movement, which he likened to a cult.
Already on March 31, 2021, when bitcoin was trading above $58,000, Brandt replied to bitcoiners that he would use his laser eyes when $BTC receives a $50,000 correction and then many will trade their lasers in resist tears. Several months after this statement, bitcoin reached an all-time high of $68,789.63. Since then, the main cryptocurrency has been on the decline and has been trading mostly between $23,000 and $18,000 since September 1, 2022. Some believe that this has nothing to do with BTC. This fall will be the exclusive consequence of the current trend in the global economy.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss any of the essential Cointribune!
As for the angels of intervention in the current monetary system, I oppose DeFi, digital assets and the metaverse. Lawyer in Luxembourg, I am interested in cryptocurrency investment funds.
