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Bitcoin Can Still Go to Zero, Peter Brandt Says

Sun, 10/02/2022 - 18:48
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Alex Dovbnya
There is still a 50% chance of Bitcoin collapsing to zero, according to the popular chartist
Bitcoin Can Still Go to Zero, Peter Brandt Says
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Commodity trader Peter Brandt continues to stick to his long-time prediction that the price of Bitcoin could potentially collapse to zero.

The chartist still believes that there is a 50% chance of such a catastrophic scenario unfolding.

At the same time, Brandt claims that there is an equal chance of the largest cryptocurrency surging to as high as $250,000, noting that the cryptocurrency has an “asymmetrical reward-to-risk trade.”

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As reported by U.Today, the trader predicted that zero could be Bitcoin’s ultimate bottom after the cryptocurrency experienced a massive pandemic-induced crash in March 2020. However, Bitcoin kicked off another bull run just months after that, initially peaking at $69,000.

Could Bitcoin ever crash to zero?  

Even though the largest cryptocurrency has been around for quite a while, there’s still no shortage of naysayers who are convinced that it will eventually fade into oblivion. As reported by U.Today, Berkshire Hathaway Vice Chairman Charlie Munger, the right-hand man of legendary investor Warren Buffett, recently claimed that Bitcoin was “very likely” to go to zero, adding that the cryptocurrency was “stupid” and “evil.”

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While such a scenario is highly unlikely, Bitcoin could still technically crash to zero. In 2018, Yale University economists estimated that the probability of the largest cryptocurrency collapsing to zero within a single day due to some extreme black swan event was 0.4%.  

A realistic bearish target?  

Speaking of more realistic bearish targets, Brandt recently suggested that the $8,000 level could end up being the bottom of the ongoing price correction.

The cryptocurrency is trading at $19,197 at press time, down 72.20% from its record high.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at