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Savvy commodity trader Peter Brandt has posted another Ethereum-themed tweet. This time, however, it was not as harsh as the one the trader posted earlier today, when he labeled ETH a “junk coin.”
The legendary trading expert tweeted that since he is a chart-based swing trader, believing ETH to be junk would not stop him from “taking a leveraged long position in ETH if the charts so indicated.” A chart is a chart, he added.
Earlier today, Brandt proclaimed ETH a junk coin “despite mindless devotion of Etheridiots.” Brandt believes that Ethereum cannot compete with Bitcoin as a store of value (“a BTC pretender”). Ethereum’s functionality is junk, he believes, since ETH is hard to use with its layer-2 solutions and the tremendous transaction fees on this blockchain.
Yuri MolchanBrandt is certain, however, that Ethereum will always attract “investors,” most likely meaning “Etheridiots.” In late December last year, the trader admitted to having just shorted Ethereum.
Tomiwabold Olajide
Denys Serhiichuk
Dan Burgin
U.Today Editorial Team
Vladislav Sopov