Veteran Trader Who Accurately Called One of Bitcoin’s Biggest Crashes Issues Major BTC and Ethereum Update

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A vet­er­an trad­er who became a leg­end in cryp­to cir­cles for cor­rect­ly fore­cast­ing Bitcoin’s 2018 col­lapse just issued an update on the cur­rent state of the markets.

Peter Brandt points to sour sen­ti­ment on cryp­to in the main­stream media as a sign that prices are at, or near, a bottom.

Brandt specif­i­cal­ly calls out BTC and Ethereum, the largest cryp­to assets by mar­ket cap, in his new note to fel­low traders.

Bit­coin, in par­tic­u­lar, has wit­nessed hun­dreds of reports over the last decade from var­i­ous news out­lets who have dared to pro­claim the top cryp­tocur­ren­cy is dead.

Accord­ing to 99Bitcoins, BTC has been writ­ten off by estab­lished jour­nal­ists and media out­lets as worth­less and on its way to zero a total of 466 times.

As fall­out from the epic col­lapse of cryp­to exchange FTX con­tin­ues to rever­ber­ate across the indus­try, traders are now mon­i­tor­ing the insti­tu­tion­al cryp­to trad­ing and lend­ing firm Genesis.

The com­pa­ny, which is owned by cryp­to giant Dig­i­tal Cur­ren­cy Group (DCG), is report­ed­ly seek­ing a $1 bil­lion cash infu­sion after halt­ing lend­ing with­drawals on Friday.

Gen­e­sis says the freeze is tem­po­rary and does not affect the busi­ness oper­a­tions of DCG or its many whol­ly-owned subsidiaries.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Fea­tured Image: Shutterstock/Alexey Malkov/Fotomay

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