Commodity trader Peter Brandt continues to cling to his long-held prediction that the Bitcoin price is likely to drop to zero.
Peter Brandt still believes there is a 50% chance of such a catastrophic scenario.
At the same time, Peter Brandt stated that there is an equal chance of the largest cryptocurrency rallying to $250,000, noting that the cryptocurrency represents a “highly asymmetric risky trade.”
In 2020, the trader predicted that $0 could be Bitcoin’s final bottom after the cryptocurrency experienced a major pandemic-induced crash in March 2020. However, Bitcoin started another bull run just a few months later.
Additionally, Brandt recently responded to a question regarding Shiba Inu by asserting that he wouldn’t be concerned about missing a price breakout.
Although the largest cryptocurrency has been around for over a decade, there is still no shortage of opponents who believe it will eventually collapse. Berkshire Hathaway Vice Chairman Charlie Munger, the right-hand man of legendary investor Warren Buffett, recently stated that Bitcoin is “very likely” to go to zero, adding that crypto is “stupid” and “evil”.
At the time of writing, BTC is trading at $19,173.
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