I Would Take Long Position in ETH, Peter Brandt Says After Bashing Ethereum

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Savvy commodity dealer Peter Brandt has posted one other Ethereum-themed tweet. This time, nonetheless, it was not so harsh because the one the dealer posted earlier at this time when he labelled ETH a “junk coin.”

The legendary buying and selling professional tweeted that since he’s a chart-based swing dealer, believing ETH to be junk wouldn’t cease him from “taking a leveraged lengthy place in ETH if the charts so indicated.” A chart is a chart, he added.

As a submit observe, I’m a chart-based swing dealer. I’d not hesitate taking a leveraged lengthy place in $ETH if the charts so indicated. A chart is a chart is a chart. https://t.co/JcHGSUQeL4

— Peter Brandt (@PeterLBrandt) April 5, 2024

Earlier at this time, Brandt proclaimed ETH a junk coin “regardless of senseless devotion of Etheridiots.” Brandt believes that Ethereum can not compete with Bitcoin as a retailer of worth (“a BTC pretender”). Ethereum’s performance is junk, he believes, since ETH is difficult to make use of with its layer-2 options and great transaction charges on this blockchain.

Brandt is definite, nonetheless, that Ethereum will at all times appeal to “buyers,” almost certainly which means “Etheridiots.” In late December final yr, the dealer admitted to having simply shorted Ethereum.

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