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Peter Brandt on Bitcoin: 'I know for a fact strong hands are buying'


www.chepicap.com 07 December 2018 14:00, UTC
Reading time: ~2 m

For some, the latest Bitcoin dip is a reason to sell. For others, it's an opportunity to buy. Renowned trader Peter Brandt says on Twitter that 'strong hands are buying into the weakness in BTC'. 

I hate being the bearer of such good news:$BTC - new bear market low close$ETH - new bear market low close$LTC - new bear market low close$BCH - new ATL$EOS - new bear market low close$XLM - new bear market low close

— Peter Brandt (@PeterLBrandt) December 6, 2018


With Bitcoin trading below $3500, Brandt started a thread on Twitter sharing the 'new bear market low closes' of top coins. Despite that downwards trend, big players are building their Bitcoin stash, Brandt claims. 'I know for a fact strong hands are buying into the weakness in BTC on scale down, even though I know they are hedged with CME futures for now.'

Read more: Why is Bitcoin dropping? 'It didn't fall because of the ETF delay'

I know for fact strong hands are buying into the weakness in BTC on scale down, even though I know they are hedged with CME futures for now.

— Peter Brandt (@PeterLBrandt) December 7, 2018


Brandt was one of the first to call the end of the bull run on December 21 last year, two days after Bitcoin reached it all time high of close to $20K. In the thread on Bitcoin today, Brandt refers to his post almost one year ago, in which he stated that 'the bubble has been popped'.

Read more: Crypto Twitter on latest Bitcoin crash: 'Save to say HODL is not a great strategy'

I am never ashamed to change my mind. In trading it is called "survival." pic.twitter.com/fzYlAMAaAg

— Peter Brandt (@PeterLBrandt) December 6, 2018

Brandt also replied to a comment on the gains of Bitcoin SV, the Bitcoin Cash fork that overtook BCH during the latest crash after it surged 17% in a bloody market. 

Wow. A you mean a new 3-week high?? Impressive indeed.

— Peter Brandt (@PeterLBrandt) December 7, 2018


What a bear market it has been...

pic.twitter.com/0Vb04sVuoQ

— Peter Brandt (@PeterLBrandt) December 6, 2018

Read more: 9 Bitcoin price predictions for 2019 by crypto experts


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