Veteran trader Peter Brandt’s latest remarks which mock crypto traders still using laser eyes crypto memes have sparked an immediate and angry response from bitcoiners on Twitter. One very famous bitcoiner, Michael Saylor, reminded Brandt that the laser eyes signify “a long-term commitment to bitcoin based on its ethical, technical, and economic superiority to alternative assets.” Technical analyst and inventor of the Bollinger Bands technical indicator, John Bollinger, suggested that Brandt’s tweet was “a bit mean.”
All BTC Purchased in 2021 is Currently ‘a Losing Trade’
Veteran trader Peter Brandt recently reignited his feud with bitcoiners who use laser eyes crypto memes after he reminded them that every bitcoin purchase in 2021 is at the moment “a losing trade.” Brandt added that even he could not have predicted that the crypto would be trading under $20,000 in October 2022.
In response to the veteran trader’s tweet, Micheal Saylor, who recently left his position as CEO at Microstrategy, explained why he and other bitcoiners are still committed to the laser eyes cause. He added:
Laser eyes signify a commitment to Bitcoin over the long term based on its economic, ethical and technical superiority to other assets. The past year has seen losses in trades for all the major financial asset categories. That is why we don’t trade, we hodl.
Saylor’s remarks were echoed by another Twitter user named Stephen Livera who insisted that the key aim of those ascribing to the laser eyes movement is “to increase our number of sats stacked and freedom acquired.” In addition, the user also appeared to attack Brandt’s use of technical indicators when seeking to understand an asset’s future price movement.
“Predicting short-term price movements is a fool’s errand. Growing and advancing the movement is the real goal,” Livera tweeted.
Alex Gladstein, a human rights defender and supporter of laser eyes, reminded Brandt that “the idea was simply to put them on for the journey to $100k.” Gladstein predicted that the laser eyes movement is not going to relent until one BTC is equal to $100,000.
When one Twitter user called Bazooka responded to Brandt’s tweet by claiming to have bought BTC when the crypto asset’s U.S. dollar value was between $17,000 and $18,000, the veteran trader shot back by reminding the user that “BTC never traded under $24,000 in 2021.”
Dogmatic Thinking: Dangerous
However, when John Bollinger, a technical analyst and inventor of the Bollinger Bands, suggested that Brandt’s tweet was “a bit mean,” the veteran trader concurred but insisted his aim was to remind supporters of the laser eyes movement of the dangers “of dogmatic thinking.”
Many Bitcoin maxis started adding red laser eyes in their profile photos during the crypto bull markets of 2021. Using the red laser eyes then signified the holder’s bullishness. Brandt, who was one the most prominent traders in the area, began to doubt the growing movement.
Brandt stated that bitcoin had reached $58,000 on the 31 March 2021.
“I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears.”
After Brandt made this statement, bitcoin hit an all time high of $68,789.63 months later. The top cryptocurrency, however, has been trading between $23,000-$18,000 ever since.
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