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Skilled commodities trader Peter Brandtwho has been in the trading space since the 1970s, has used his account on the social media platform X in the past to share some amazing cryptocurrency predictions with the community and also to share the cryptocurrencies he holds.
As for his expectations, the famous trader expects that the cryptocurrency market will enter a major correction this year.
Brandt reveals his cryptocurrency holdings, but here's a twist
Peter Brandt admitted that he owns two of the top ten cryptocurrencies – in particular, the leading one, Bitcoin, and Solana (SOL), an Ethereum competitor that is being labeled as another “Ethereum killer.”
It appears that despite owning cryptocurrencies, Peter Brandt does not expect Bitcoin to repeat the astonishing 1.4 million-fold rise that the world's largest cryptocurrency has achieved since January 5, 2010, when it traded at $0.07 (while it now trades at over $99,000). after that). It reached an all-time high of over $108,000 in mid-December).
“A lot of people expect a repeat,” Peter Brandt tweeted, especially millennials and people from Generation Z. Brandt stated that they “expect coins to be their salvation and ticket to riches.” He revealed that while he owns Bitcoin and Solana, what he prefers to buy now to make big profits is not cryptocurrencies but “Kleenex shares” produced by Kimberly & Clark. Perhaps he was just referring to the stock market in general, giving the name of this company as an example. Brandt even assumed that some crypto holders might start calling him a crypto hater after this, but he doesn't seem to mind that anyway.
Related to
Brandt says a big correction for BTC, massive altcoins, and memecoins is coming
In another tweet posted today, the experienced commodities trader, who also dabbles in cryptocurrency trading, stunned the cryptocurrency community with some major bearish predictions regarding larger and smaller cryptocurrencies.
Brandt believes Bitcoin is on track for a 50% correction, while he expects altcoins to collapse by 90% and Meme coins to lose 100% Of its value. He didn't specify a time frame in which this would likely happen, but it's clear he was talking about the nearer future, likely around 2025, which is just getting started.
Over the weekend, Bitcoin rebounded 3.32%, rising from $96,000 to the $92,255 level, where it is currently trading.
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