Trader Peter Brandt Says Bitcoin Has Joined Big Leagues

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Thu, 03/25/2021 - 05:59
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Alex Dovbnya
Peter Brandt believes that Bitcoin is now in the same league with gold and the U.S. dollar
Trader Peter Brandt Says Bitcoin Has Joined Big Leagues
Cover image via www.peterlbrandt.com
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Veteran trader Peter Brandt says that Bitcoin is already in the "big leagues" in his recent tweet. 

The chartist says that there is roughly $2.1 trillion U.S. dollars in circulation while officially held gold reserves stand at $2.2 trillion. 

the U.S. dollar
Image by @PeterLBrandt

Bitcoin would only need to double its price to reach these numbers at this point.        

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As reported by U.Today, a Deutsche Bank analyst recently concluded that Bitcoin was "too big to fail" after its market cap surpassed $1 trillion.   

Yet, the cryptocurrency continues to have many detractors who predict its demise, which is why Brandt notes that he has never seen an asset with such "strong binary options."   

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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 alex.dovbnya@u.today.

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