Veteran Trader Peter Brandt Predicts ETH May Not Even Be A Listed Asset In Next 10 Years: 'A Piece Of Junk'
Portfolio Pulse from Mehab Qureshi
Veteran trader Peter Brandt expressed skepticism about Ethereum's future, suggesting it may not be a tradable asset in 10 years due to high gas prices and inferior store of value compared to Bitcoin. Despite recent gains in the crypto market, Brandt advised watching the ETH-BTC ratio, hinting at a potential decline if it doesn't hold above a certain level.
December 15, 2023 | 12:20 pm
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NEGATIVE IMPACT
Peter Brandt predicts Ethereum may not be a listed asset in 10 years, criticizing its high gas fees and functionality. Despite a recent surge, he remains skeptical of its long-term viability.
Brandt's negative outlook on Ethereum, especially in comparison to Bitcoin, could influence market sentiment and potentially lead to a decrease in investor confidence in the short term.
CONFIDENCE 70
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Peter Brandt positions Bitcoin as the superior crypto asset over Ethereum, which could reinforce Bitcoin's status as the preferred store of value in the cryptocurrency market.
Brandt's endorsement of Bitcoin as the unrivaled crypto asset and his skepticism towards Ethereum could lead to increased investor confidence in Bitcoin in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80