Skilled commodities trader Peter Brandt, who has been in the trading business since the 1970s, has taken to his account on the X social media platform in the past to share with the community a few stunning crypto predictions and also to share what cryptocurrencies he holds.
As for his predictions, the famous trader expects the crypto market to enter a large correction this year.
Brandt reveals his crypto holdings, but there's a twist
Peter Brandt admitted that he holds two top10 cryptocurrencies — in particular, the pioneer one, Bitcoin, and Solana (SOL), an Ethereum rival positioned as another “ETH killer.”
It seems that despite owning crypto, Peter Brandt does not expect Bitcoin to repeat the astounding 1.4 million-fold rise that the world’s largest crypto has staged since Jan. 5, 2010, when it traded at $0.07 (while, now, it is changing hands above $99,000 after reaching an all-time high of over $108,000 in mid-December).
On Jan 5, 2010 Bitcoin was at $.07In 15 years, $BTC has advanced 1.4 MILLION-foldYet, many ppl are expecting a repeatAnd many Zs and Ms expect trash_coins to be their redemption & ticket to richesGo ahead, call me a hater (I own Bitcoin & SOL)But I'm buying Kleenex stock
— Peter Brandt (@PeterLBrandt) January 6, 2025
Peter Brandt tweeted that “many people are expecting a repeat,” especially millennials and people from the Z generation. They “expect trash_coins to be their redemption & ticket to riches,” Brandt stated. He revealed that while he holds Bitcoin and Solana, what he prefers to buy now for big profits is not crypto but “Kleenex stock,” produced by Kimberly & Clark. Perhaps he was referring just to the stock market in general, offering the name of this company as an example. Brandt even assumed that some crypto holders might begin calling him a "crypto hater" after that, but he does not seem to mind that in any degree.
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Big BTC correction, huge altcoin and meme coin correction coming, Brandt says
In another tweet published today, the experienced commodities trader, who is also into crypto trading, stunned the crypto community with some big bearish predictions regarding both the largest and smaller cryptos.
I say this having witnessed markets for 50 years. Some will do great from here forward. But too many fools will get too leveraged, miss the top and get blown out in the next 50% correction in BTC, 90% correction in altcoins, 100% correction in memes https://t.co/o33Jnq4IHz
— Peter Brandt (@PeterLBrandt) January 6, 2025
Brandt believes that Bitcoin is in for a 50% correction, while he expects altcoins to crash by 90% and meme coins to lose 100% of their value. He did not specify the time frame when it is likely to happen, but obviously, he was talking about the near future, likely about 2025, which has just begun.
Over the weekend, Bitcoin recovered by 3.32%, rising from $96,000 to the $92,255 level, where it is currently changing hands.
