Bitcoin

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

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.”

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.

BTC daily chart. Source: CoinCu

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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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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