Economist Peter Brandt is not Bullish on Bitcoin’s Short-Term Future

Peter Brandt is a cryptocurrency trader and economist who recently shared some updates about the Bitcoin price projections for the short term. Peter L. Brandt posted the updates and insights on Twitter. He is known in the financial circles as a master chartist and financial markets analyst. According to his latest projections, the prospects for Bitcoin investors in the short term are not looking up.

It is worth noting that Brandt started his career in 1976 as a commodity trader and published his world-renowned book called Trading Commodity Futures with Classical Chart Patterns. He published another guidebook on financial trading in association with John Wiley and Sons Publication in 2011 called Diary of a Professional Commodity Trader. His second book is ranked as the #1 book about trading for 27 consecutive weeks.

Brandt has been able to amass the goodwill of some of the biggest trading moguls and financial investment figures. Raoul Pal, who is the CEO and co-founder of Real Vision, said to him at one point that Peter is one of the best, and he possesses the experience and expertise as a chartist.

He further added that Peter’s grasp on risk management is quite transparent and free from clutter. Real Vision has worked for many years with Brandt and featured a considerable amount of his work. In his latest tweets, Brandt added that Bitcoin price projections that are displaying positive and massive bullish output could be less than authentic. Responding to such a bullish chart by Set PK, he leaned towards conservative returns rather than making big banks with Bitcoin.

It is better to be well-informed in the financial space rather than fear the possible losses. Peter Brandt shared on Twitter that the investors with cryptocurrency reserves should make necessary changes in their portfolios. His latest tweet suggests that Bitcoin prices can drop down to $27k. He has claimed in the past that he has no issues with Bitcoin but does not consider it religiously.

Peter Brandt Does not Want to Hold His Bitcoin Reserves for a Long-Time

In a tweet sent in March, Brandt claimed that he is not planning to hold his Bitcoin reserves for a long time and projected an 80% downtrend. He added the caution at the same time that he was not waving in favor of short-term investments for Bitcoin either. He recently posted some dire projections from NASDAQ 100 and postulated that he is getting the feeling of deja vu.

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