u.today
Peter Brandt, a big name in the financial trading world, has a warning for all you crypto fans out there — especially the ones who are into meme coins. For Brandt, who has been in the market for 50 years, the risks tied to these digital assets have never been higher, and the next market crash could leave them in ruins.
His message is clear: history may not repeat itself the way many expect. While Bitcoin's rise from $0.07 in 2010 to its current heights is undeniably extraordinary, Brandt warns that such monumental returns are unlikely to occur again. But it is not Bitcoin that is his biggest concern — it is the craziness around altcoins and meme coins.
He sees a pattern where investors use too much debt to chase trends, hoping to get rich quick. They put a lot of resources into assets that are not that useful, hoping for a financial miracle.
For Brandt, this approach is dangerous, especially when markets inevitably reverse course. He thinks meme coins are the riskiest and could totally crash.
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
If the market drops, he thinks Bitcoin (BTC) might lose half its value, altcoins could drop 90% and meme coins could be gone for good. To him, this is not just some far-out idea; it is rooted in how speculative markets usually work. These corrections have hit traders before, and Brandt thinks they are about to do it again.
Unlike a lot of skeptics, Brandt is not totally dismissive of cryptocurrency. He has Bitcoin as a long-term investment and thinks it is the only digital asset with a proven track record. But he sounds more worried when he talks about the whole market.