Veteran analyst Peter Brandt is a long-term Bitcoin (BTC) investor, but he believes Litecoin (LTC) will soon outperform the benchmark cryptocurrency.
He told his 580,000 Twitter followers that Litecoin is ready for a big bull run after breaking its high of $ 239.12 in September.
“Litecoin has broken the September high with soaring trading volumes and the WBB (Bollinger Bands Width) indicator. I think it will retest the 2021 high of $ 395. “
The source: Peter Brandt / Twitter
BBW has a function to measure the percentage difference between the upper and lower bands of the Bollinger Band. An increase in the indicator after prolonged accumulation usually leads to a strong movement towards the breakout. In the case of LTC, Brandt believes it will explode heavily.
LTC is up 40% from its weekly low of $ 193 and is currently trading at $ 263.94.
In addition to the price movement of Litecoin, Brandt also has a long-term view of Bitcoin. He believes it can serve as a safe haven against inflation.
“I am absolutely certain that the value of the US dollar will fall.
1 dollar when I was born is worth 8 cents today.
A dollar will likely be worthless today when my grandchildren are my age.
BTC “.
analyst speak that he has continued to buy Bitcoin since April 2019.
“Note to my skeptics.
I only sell crypto once in my life (November 14, 2018).
I have been buying BTC continuously since the beginning of April 2019. I think the price of BTC will always rise in the long term. “
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