Veteran Trader Advises ‘Gen Zs’ To Put Aside & Hold On Bitcoin Savings


It is time for the new and younger generation to invest in Bitcoin. At least this is what veteran trader and popular commentator Peter Brandt recommends.

Brandt suggests that members of the “Gen Z” should graduate in an area where they can quickly find high-paying jobs and, if possible, avoid student debt.

He referred to the largest cryptocurrency by market capitalization, Bitcoin, in his discussion of investments.

Related article | Bleak crypto future? Book author warns we are in the biggest bubble in history

Brandt believes they should invest most of their savings in the world’s most sought after crypto assets and strong company stocks.

Brandt stated that even if Bitcoin is currently still “generally” untrusted and unproven by a large number of people and by local governments, it could imply various trends that can extend the invested value of a specific cryptocurrency.

Crypto as a smart investment

Brandt, the founder and chief executive officer of Factor LLC, has been trading commodities for more than 40 years and has been a well-known analyst and investor ever since.

His claim to fame was a correct prediction of Bitcoin’s sharp price decline in 2018. He has taken to Twitter to give financial advice to millennials and Generation Z.

He called Bitcoin a good cryptocurrency investment in terms of the current viability of the market.

Total Crypto Market Cap at $1.711 Trillion on Daily Chart | Source: TradingView.com

Brandt’s predictions about Bitcoin

According to Brandt, Bitcoin is almost halfway through its current bull market of a low price.

He pointed out that the long-term Bitcoin bull market is still intact. Its technical analysis indicates it could continue to climb, albeit with some corrections along the way.

Based on the long-term trend channel, he expects bitcoin to reach $180,000 to $200,000 in the third or fourth quarter of this year.

According to a recent Deutsche Bank poll, more than a fifth of Bitcoin investors believe the cryptocurrency’s price will exceed $110,000 in five years.

Store of wealth

Brandt eagerly stated that rallies and corrections could be possible for the famous cryptocurrency due to its familiarity with the market trends and that Bitcoin is taking on the role as a storehouse of wealth and medium of exchange.

“It’s a binary bet. It will be the best of what people want it to be, or it will be nothing,” he said.

Still, as long as investors and people continue to set high standards and transactions for the cryptocurrency, it will act as it should be: a medium for financial compliance.

Bitcoin today

Meanwhile, Bitcoin (BTC) is currently trading $39,130.05representing an increase of 1.54% in the last 24 hours.

According to Coindex Statistics, the highs have reached $40,222.40 while the lows have stayed above the $37,000 barrier at $38,335.60.

Bullish patterns are predicted to emerge as March progresses, but current volatility may reduce bullish opportunities for Bitcoin due to global events and market shifts.

Related article | Bitcoin on track to hit $100K in nine months, Bitbull CEO predicts

Featured image from CNBC, chart from TradingView.com

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