Back

Peter Brandt Makes a Case for Bitcoin While Calling Altcoins ‘Cheap Pretenders’

News
Thu, 05/09/2019 - 14:35
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Trading vet Peter Brandt channels the views of Bitcoin maximalists, suggesting that there is no need to put money into cheap pretenders

Cover image via www.facebook.com
Contents

In his most recent tweet, trading vet Peter Brandt claims that those who got into crypto were misled by altcoins. According to Brandt, he missed the Bitcoin train went for ‘cheap pretenders.’

Must Read
Trading Legend Peter Brandt Floats the Possibility of Bitcoin Bull Run - READ MORE

Are altcoins becoming useless?  

Bitcoin went mainstream only after December 2017 when the top coin reached the peak of its historic bull run.

Since Bitcoin was already an established cryptocurrency whose price went from a couple of cents to $20,000 in less than ten years, neophyte investors started looking for another gem, which explains why the Bitcoin dominance index (BDI) dipped to 33 percent in February 2018.

Fast-forward to May 9, 2019, when BDI is sitting at 57.2 percent, it is apparent that Bitcoin won’t cave in to altcoins anytime soon. As reported by U.Today, the price of BTC has recently surged above the $6,000 mark.

Must Read
Ripple's XRP Is Undergoing ‘Popcorn’ Rally: Peter Brandt - READ MORE

Taking a dig at XRP

Brandt seems certain that the great pretenders are going to zero. He also didn’t miss the opportunity to suggest that XRP is simply used for buying Bitcoin. Earlier, Brandt predicted that Ripple’s native token would soon face it's ‘do or die’ moment if it fails to hold above its current resistance level. Over the last 24 hours, XRP has been remarkably steady with its price sitting at $0.30.

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 alex.dovbnya@u.today.

Recommended articles
Whales Need 'Lots of Fools' to Get Rid of Their Bitcoin Holdings: Peter Schiff

Whales Need 'Lots of Fools' to Get Rid of Their Bitcoin Holdings: Peter Schiff

Bitcoin Price Reaching $1 Mln Is 'Nonsense', According to John McAfee

Bitcoin Price Reaching $1 Mln Is 'Nonsense', According to John McAfee

Tone Vays, Willy Woo Assume Roger Ver Has Paid for This Vending Machine to Accept BCH Instead of Bitcoin

Tone Vays, Willy Woo Assume Roger Ver Has Paid for This Vending Machine to Accept BCH Instead of Bitcoin