It’s time for the new and younger generation to invest in Bitcoin. Peter Brandt (an acclaimed trader, commentator and veteran) recommends that you do this.
Brandt suggests members of the “Gen Z” should get a degree in an area where they may quickly find a well-paying job while avoiding student debt, if possible.
In his talk on investing, he mentioned Bitcoin as the biggest cryptocurrency according to market capitalization.
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Brandt believes that they should invest majority of their savings in the world’s most sought-after crypto asset and strong company equities.
Brandt stated that even if Bitcoin is still “generally” untrusted and unproven by a huge number of people as well as local governments as of present, it can implicate various trends which can lengthen invested value on a specific cryptocurrency.
The Smartest Investment: Crypto
Brandt is the founder of Factor LLC and its chief executive officer. He has been involved in trading commodities for more than 40 years. Since then, he has been an investor and analyst.
His claim to fame was correctly forecasting Bitcoin’s sharp price drop in 2018. His financial advice for Millennials, Generation Z has been provided by him via Twitter.
According to the current viability of the market, he cited Bitcoin as an excellent cryptocurrency investment.
Source: TradingView.com| Source: TradingView.com
Brandt’s Predictions On Bitcoin
Brandt claims that Bitcoin has nearly reached its halfway mark in the current bull market since it was at an all-time low.
He also pointed out the fact that Bitcoin’s bull market has remained stable over time. According to his technical analysis, it is likely that the price will continue climbing, even with some adjustments.
He believes that bitcoin will surpass $180,000-$200,000 in the fourth quarter of 2018, based on long-term trends.
According to a recent Deutsche Bank poll, over a fifth of Bitcoin investors believe the cryptocurrency’s price would top $110,000 in five years.
The Wealth Store
Brandt enthusiastically stated that corrections and rallies are possible for Bitcoin due to his knowledge of its market trends. He also noted that Bitcoin has taken the role of a storehouse of wealth as well as an exchange medium.
“It’s a binary bet. It will be the best of what people want it to become, or it will become nothing,” he said.
Still, as long as investors and people alike continue to set high standards and transactions on the cryptocurrency, it will act as it’s supposed to be — a medium for financial compliance.
Bitcoin Today
Bitcoin (BTC), which is trading currently at $39,130.05 represents a 1.54% rise over the past 24 hours.
Coindex Statistics says that the highs reached $40,222.40 while lows remained above $38,000 at $38,335.60.
As March advances, bullish patterns will emerge. However, the volatility rate currently in place may limit opportunities to invest in Bitcoin. This could be due to market changes and global events.
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CNBC image featured, chart by TradingView.com