Peter Brandt, a legendary commodities trader who has been practicing since the middle of the 1970s, has taken to his official account on the X social media network (formerly famous as Twitter) to share his take on the expectation shared by many, as he pointed out that Bitcoin will hardly increase higher than $100,000.
Fighting "conventional wisdom" and Bitcoin-will-stop-at-$100,000 take
He titled his tweet “Conventional wisdom,” explaining that this is a condition that many market participants firmly believe in, offering as an example an expectation that “Bitcoin will stop at $100,000.”
When this conventional wisdom becomes “entrenched,” Brandt stated, “I do the opposite.” Therefore, the savvy commodities trader sort of hinted that he does not believe that digital gold Bitcoin will stop growing after it has reached the $100,000 price level. “Conventional wisdom is usually wrong,” Brandt added.
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Conventional Wisdom
This is a condition in which there is a widely held belief by the market participants (example: Bitcoin will stop at $100,000).
When conventional wisdom really becomes entrenched, I do the opposite.
Conventional wisdom is usually wrong.
Advertisement — Peter Brandt (@PeterLBrandt) November 25, 2024
On Sunday, Bitcoin was pushed back down, losing the $95,500 zone and landing on $95,860. That decline was followed by a recovery of 3.2% as, today, BTC managed to return to $98,920. However, by now, the world’s leading cryptocurrency has lost 1.65% and is changing hands at $97,215.
Popular entrepreneur and financial influencer Robert Kiyosaki, who is also known as the author of popular book on financial literacy “Rich Dad Poor Dad,” tweeted today that in 2025, Bitcoin is likely to skyrocket as high as $500,000.
Kiyosaki said that this prediction was made by artificial intelligence. It was likely either OpenAI’s popular chatbot ChatGPT or Elon Musk’s Grok integrated with the X platform, though Kiyosaki did not specify which AI he trusts and prefers to ask it about asset price predictions.
Q: what is price of Bitcoin in 2025?
A: $500,000 according to AI
My apologies for no date in previous
(X)
— Robert Kiyosaki (@theRealKiyosaki) November 25, 2024
Last week, when Bitcoin hit an all-time high of $99,500, Kiyosaki tweeted that he expected it to reach $100,000 on the same day. While that did not happen, he continued tweeting about BTC, saying that he was following Michael Saylor’s “strategic Bitcoin plan” of purchasing BTC, albeit on a much smaller financial scale. However, in a recent tweet, Kiyosaki said that he would stop accumulating BTC as soon as it soars to $100,000.
Aside from that, the financial guru tweeted that he agrees with Saylor’s long-term outlook that, in 10 years, BTC is likely to cost $13 million per coin.
