U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Bitcoin Bulls Must Be Fully Purged on Twitter to Let BTC Price Hit $50,000: Peter Brandt

Sat, 11/23/2019 - 09:32
Yuri Molchan
The veteran trader Peter Brandt states that Bitcoin bulls on Twitter are only preventing BTC from reaching $50,000 and must be purged
Cover image via www.youtube.com
Put your crypto to work
  • $68.96

    Interest per week

  • $3585.7

    Interest per year

  • 4.15%

    Interest rate

Join Now!

Having lost around 17 percent of value in the last few days, Bitcoin is now trading in the $7,100 area. The cryptocurrency market is in the red, still many prominent crypto experts recommend people to ‘buy the dip’.

Bitcoin uptrend still intact

One of those optimists is Tuur Demeester, the founding partner at Adamant Capital. On Friday, he tweeted to calm down the community stating that the parabolic uptrend that Bitcoin started in 2015 remains. 

Peter Brandt responds

The veteran old-school trader believes that perhaps Bitcoin needs a long journey below the line (i.e. bearish one) to let the price prepare for surging towards $50,000.

Peter Brandt states that Bitcoin bulls on Twitter are only a hindrance to that and states they must be gone to let the market rise properly again:

“When no bulls can be found on Twitter, then we will have a great buy signal.”

Bulls here are apparently those who wish to wake up the next morning and become a BTC billionaire or at least by a Lambo without accepting the market as it is – with its bears, big price corrections, etc.

Experts keep warning – the crypto market is highly volatile, do your own research, do not invest more than you can afford to lose.

Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Tom Lee steps in

The chief Fundstrat’s expert on crypto investment Tom Lee also refers to Tuur Demeester, saying that traders and investors should keep in mind a broader picture of Bitcoin rather than focusing on short-term price fluctuations.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Ethereum (ETH) Founder Vitalik Buterin Names Worst Bitcoin (BTC) Price Predictions
Main Reason Bitcoin (BTC) Hashrate Surged Back Above 100 EH/s After Precipitous Drop
Ethereum (ETH) Price Able to Reach $195, Here’s How