Peter Brandt Touts ‘Zero’ as Bitcoin’s Potential Bottom
- Crypto analyst Peter Brandt says that bitcoin’s potential bottom could be at zero.
- Brandt gave bitcoin a fifty-fifty chance of reaching either $100K or falling to nothing.
Influential crypto analyst Peter Brandt says that bitcoin could find a bottom at “zero” amidst the ongoing market turmoil.
Following last week’s crash for bitcoin and crypto-assets, popular technical analyst Peter Brandt tweeted that BTC’s bottom could extend all the way to zero. According to Brandt, he gave bitcoin a fifty-fifty chance of reaching either $100,000 or $0. In the aftermath of last week’s market crash, during which bitcoin fell as low as $3800 for the first time since early 2019, Brandt said the cryptocurrency was likely heading to zero.
Brandt made his comments in response to a previous tweet outlining the lessons he had learned from previous market crashes, including the 2008 global financial meltdown. While Brandt had originally called bitcoin falling to $5500, he said the bottom was below $1000.
Gold bug and crypto-critic Peter Schiff also took to Twitter to give his opinion on the market crash. Schiff criticized bitcoin’s safe-haven status amidst the coronavirus turmoil, saying that current conditions should have proved bullish for BTC rather than causing last week’s meltdown.
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