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Trading Legend Peter Brandt Expects Ethereum to Significantly Outperform Bitcoin

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Thu, 07/09/2020 - 05:59
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Alex Dovbnya
Legendary trader Peter Brandt gets behind the idea that a new altseason is finally here
Trading Legend Peter Brandt Expects Ethereum to Significantly Outperform Bitcoin
Cover image via www.peterlbrandt.com
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Trading guru Peter Brandt has cheered Ethereum holders by predicting that their cryptocurrency will significantly outperform Bitcoin in the near future in his new tweet.

Brandt also believes that this applies to ‘most’ other altcoins, which means that the much-coveted altseason might have finally arrived.

Peter Brandt
image by @PeterLBrandt

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More room for growth

At press time, ETH is changing hands at 0.02613 BTC, its highest level since March 8.  

Ethereum has managed to gain more than five percent against Bitcoin over the last five days, but Brand is convinced that this breakout is far from over.

The chartist set his price target at 0.03276 BTC that would translate into a 23 percent increase for the ETH/BTC pair from where it is trading right now.

The largest altcoin is currently down over 79 percent from its all-time high of 0.12396 BTC that was recorded on Feb. 1, 2018.

Tuur Demeester of Adamant Capital agreed with Brandt’s take, claiming that Ethereum technical picture is very bullish. However, he hasn’t been sold on Ethereum’s fundamentals in spite of the mushrooming decentralized finance (DeFi) ecosystem.  

Tuur2
image by @TuurDemeester

Related
Bitcoin Analyst Tuur Demeester Predicts Stronger U.S. Dollar

Charts above fundamentals 

As reported by U.Today, Brandt called altcoins ‘pretenders’ (as opposed to Bitcoin), but he didn’t get his bias stand in the way of his chart analysis.

Multiple major altcoins (from Stellar to Chainlink) are in the middle of massive rallies while Dogecoin recently pumped 100 percent.

Even XRP, which Brandt slammed as a ‘scam’ that was going to zero, is now expected to go higher by the chartist.

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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.