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Veteran Trader Peter Brandt Claims There Are Similarities Between Charts of Ethereum and Tesla

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Mon, 08/02/2021 - 17:45
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Alex Dovbnya
Veteran trader Peter Brandt says that Ethereum's price chart is similar to that of Tesla
Veteran Trader Peter Brandt Claims There Are Similarities Between Charts of Ethereum and Tesla
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Commodity trader Peter Brandt has tweeted that those who like that chart of Ethereum, the second-largest cryptocurrency, will also have to like the chart of e-car maker Tesla, pointing to some striking similarities between them.  

The Ether price has been on a tear ahead of the hotly anticipated “London” hard fork that is scheduled to take place on Aug. 4. Bulls appear to be unfazed by a potential delay, with the flagship altcoin notching a record-breaking 12 days in the green.

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Over the past three days, Ether gained 14 percent against Bitcoin, reviving conversations about the flippening.

The shares of Tesla are also in the middle of an impressive rally, adding more than 10 percent over the past three trading sessions and surpassing the $700 level for the first time in three months. The ongoing recovery is fueled by the company’s impressive second-quarter earnings that were announced last week.   

During the “B Word” conference, Tesla CEO Elon Musk revealed that Ether was part of his cryptocurrency portfolio.

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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.