Peter Brandt is an iconic dealer who prior to now known as the dramatic fall to the Bitcoin bear market backside, practically a yr forward of time. Could the commodities dealer with many years of expertise in all issues markets – who has for certain seen a factor or two in his profession – now be forewarning of an alleged collapse of the favored cryptocurrency alternate Coinbase?
His tweets seem to indicate so, calling into query a number of mounting issues associated to the corporate. Here’s what’s occurring relating to the daring claims made by Brandt, and what Coinbase may allegedly be hiding.
Career Trader Makes Bold Calls, Accurately Predicts Bitcoin Bottom One Year Out
Words can carry a number of weight. They include much more significance relying on the mouth they’ve come from, and relying on that particular person’s expertise or clout.
When it involves pure classical technical evaluation, few would argue that Peter Brandt is among the many better of the perfect dwelling immediately. He’s acquired practically 50 years buying and selling and speculating beneath his belt, and he’s charted all the pieces from corn to manure, to in fact, Bitcoin.
Related Reading | Peter Brandt Calls For 80%+ Bitcoin Price Decline Over A Year Ago With Chilling Accuracy
Brandt has been a public supporter of the main cryptocurrency by market cap, however has additionally been labeled a “hater” on account of his typically painful calls that carry exuberant buyers again to actuality – one thing they have an inclination to not like.
Brandt was labeled as such after calling for a drop to beneath $4,000 in January 2018, practically a full yr earlier than the cryptocurrency reached such a backside of the bear market.
His expertise permits him to see issues that others can’t, however are his newest claims over Coinbase points correct?
Brandt's calls have had wizard degree accuracy prior to now on account of his expertise | Source: BTCUSD on TradingView.com
Peter Brandt Slams Crypto Exchange Coinbase Over Concerns, “Signs Of Trouble Ahead”
Peter Brandt went on a tirade on Twitter lately, blasting popular cryptocurrency exchange Coinbase and its CEO Brian Armstrong with a string of presently unsubstantiated claims.
Brandt warns that in his time in markets, he’s witnessed three main brokers go beneath, and that every introduced the identical clues forward of time that Coinbase presently is.
After itemizing a number of “signs of trouble ahead” Brandt tagged the SEC and FINRA Twitter handles asking for a deeper dive into the corporate forward of any IPO.
Related Reading | Massive Coinbase Outflows Suggest Bitcoin Price Is Ready To Bounce
Brandt’s lash out was ultimately tempered, as an alternative forsaking tweets with a extra “wait and see” tone. He admits he’s acquired no insider information of such a state of affairs present – only a robust opinion he says will get even stronger when his expertise with previous brokers offers all of the conviction wanted.
Coinbase has solely had a transparent monitor report to this point, and whereas it has been topic to controversy surrounding charges and even unscheduled downtime, there’s by no means been any proof of any wrongdoing. Brandt’s foresight has been correct prior to now – is he as soon as once more seeing one thing the remainder of the market can’t?
Featured picture from Deposit Photos, Charts from TradingView.com