Peter Brandt: Bitcoin Has A 50% Chance Of Go To Zero

2 mins mins

03 October 2022, 05:45:26 GMT +0000

Commodity trader Peter Brandt continues to cling to his long-held prediction that the Bitcoin price is likely to drop to zero.

Peter Brandt: Bitcoin Has A 50% Chance Of Go To Zero 3

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.”

Dating back to 2018 I have without apology stated that Bitcoin $BTC has a 50% chance to go to $100,000/$250,000/whatever and 50% chance to go to $Zero. This I still believe, but it means that #BTC represents a highly asymmetrical reward-to-risk trade pic.twitter.com/Iop7HIMkE3
— Peter Brandt (@PeterLBrandt) October 2, 2022

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.

All along I have stated my belief that there was a 50% chance BTC was going to $100,000 and a 50% chance it would go to $0, or literally zero. Once we broke through 7500 I place my bets on zero.
— Peter Brandt (@PeterLBrandt) March 13, 2020

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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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