Legendary trader warns Bitcoin ‘expectations way too high’ – Here’s why
A legendary trading expert has warned young people banking on Bitcoin (BTC) as their ticket to financial freedom, even as proponents maintain the asset is poised for record highs. According to Peter Brandt, Bitcoin bull cycles have significantly ‘degenerated in magnitude’ over time, noting that Gen Z and millennials may have set their expectations regarding digital currency too high, he said in an X post on December 1. “Bitcoin bull cycles have exponentially degenerated in magnitude. BTC is likely to remain a great hedge vs. fiat busts. But, the bloom is off the rose. Gen M & Zers who view BTC as the road to financial glory are likely to be very disappointed,” he said. Picks for you Here’s how bad the U.S. debt crisis has become 18 hours ago ...