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Seasoned commodity trader Peter Brandt slams the “arrogance of the laser eyes movement”, while famous trader John Bollinger and MicroStrategy’s Michael Saylor disagree with the chartist.
Besides, Brandt admitted that he was unable to predict that in 2022 Bitcoin would be trading below the $20,000 level.
“Let’s be honest” – Bitcoin under $20,000
In a recently published tweet, Peter Brandt stated that hardly anyone in 2021, who added “laser eyes” to their Twitter avatars, was able to predict that every BTC purchase back then would turn into a losing trade in 2022. And there was plenty of those who “wore” laser eyes on Twitter, trader reminded the community.
Brandt admitted that he was unable to predict that Bitcoin would be sitting below the $20,000 level this year for several months in succession.
OK, let's be honest. How many ppl who sprouted laser eyes in 2021 would have believed that every BTC purchase the entire year would presently be a losing trade? pic.twitter.com/jbRI6gc92p
— Peter Brandt (@PeterLBrandt) October 7, 2022
“Danger of dogmatic thinking”, Bollinger and Saylor step in
Another renowned trader, inventor of Bollinger Bands TA indicator, John Bollinger joined the discussion. So did Bitcoin evangelist Michael Saylor. from MicroStrategy – th ecompany’s founder and its former CEO.
Michael Saylor told Brandt that the “laser eyes” movement was merely a sign of taking a commitment to Bitcoin “based on its ethical, technical, and economic superiority to alternate assets.”
The Bitcoiner reminded Brandt that in the last 12 months, not only Bitcoin but all top assets have been going down. For this reason, Saylor tweeted, “we don’t trade Bitcoin, we hodl”.
John Bollinger joined the discussion, saying that it was “a bit mean” of Brandt to state that about Bitcoin and “laser eyes”. In response, the commodity trader slammed “the arrogance of laser eyes movement” and reminding those Bitcoiners that dogmatic thinking can be dangerous.
John, in some ways, yes, I agree -- a bit mean. But in other ways I disagree. The arrogance of the laser eye movement needs to be reminded of the danger of dogmatic thinking.
— Peter Brandt (@PeterLBrandt) October 7, 2022
Brandt again then reminded Bollinger that in the root tweet, he himself admitted being among those who did not believe Bitcoin at $20,000 was ever likely again.
Do you understand that I was among those who would have never thought $20,000 was possible again. So, am I kicking myself????
— Peter Brandt (@PeterLBrandt) October 8, 2022
Godfrey Benjamin
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