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

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  • Yuri Molchan
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    The veteran trader Peter Brandt states that Bitcoin bulls on Twitter are only preventing BTC from reaching $50,000 and must be purged

Expert trader Peter Brandt: Bitcoin bulls on Twitter are preventing BTC from hitting $50,000
Cover image via www.youtube.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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.

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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.

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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.

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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
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Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion on Twitter.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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