Mon, 07/01/2019 - 20:06

Peter Brandt: ‘99 Percent of Altcoins Will End Up Being Worthless’

💭💕If you think that your favorite altcoin will not end up among the ‘lucky’ 99 percent, it probably will🍀🎲

Cover image via 123rf.com

Trading vet Peter Brandt, who keeps the cryptocurrency community in suspense with his Bitcoin predictions, recently revealed that he would buy Bitcoin at $9,000 if its price corrected to that level.

Overall, he’s very bullish on Bitcoin, reiterating his earlier prediction about the coin’s parabolic rise.

BTC is wont to have major pullbacks during its bull runs, so the recent retracement doesn’t say much about its long-term price action.

However, Brandt is clearly not a fan of altcoins, going as far as claiming that a whopping 99 percent of them will eventually end up being worthless.

Mainly these altcoins serve the purpose of market speculation and raising money for people who did the ICO.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.