Peter Brandt Says Every Bitcoin Buy in 2021 Is a Loss, Bollinger and Saylor Respond
Brandt trolls the laser eye movement once again.
In a tweet on Friday, veteran trader Peter Brandt called out people who donned the famous laser eyes, wondering if any of them would have expected that all 2021 purchases would be lost by this point.
“OK, let’s be honest,” Brandt tweeted. “How many laser-eyed people in 2021 would have thought that every BTC purchase for the entire year would currently be a losing trade?”
OK, let’s be honest. How many ppl sprouting laser eyes in 2021 would have thought that every BTC purchase all year would currently be a losing trade? pic.twitter.com/jbRI6gc92p
— Peter Brandt (@PeterLBrandt) 7 October 2022
Following up on the tweet, Brandt admits that he would never have believed at the time that the asset would trade below $20k again.
John Bollinger and Michael Saylor respond
Unsurprisingly, Brandt’s scathing tweets have attracted various responses from crypto-Twitter. For example, fellow veteran trader and contributor to the field of technical analysis John Bollinger revealed that he felt Brandt’s comments were a bit harsh, as according to the analyst, people learn from mistakes, not from being scolded.
People learn from their mistakes, not from being yelled at.
— John Bollinger (@bbands) 7 October 2022
Meanwhile, MicroStrategy’s Michael Saylor argued that the laser eyes represented a long-term belief in Bitcoin based on its ethical, technical and economic value proposition. Furthermore, the Bitcoin evangelist noted that other major financial assets are also under water.
Laser eyes means a long-term commitment to #bitcoin based on its ethical, technical and financial superiority to alternative assets. All major financial asset classes have lost trades over the past year. That’s why we don’t act, we #hodl.
— Michael Saylor⚡️ (@saylor) 7 October 2022
A little background on laser eyes
While Saylor’s claims may be what the laser eyes have come to represent, it’s worth mentioning that the original intent isn’t that sophisticated.
That’s exactly what I said when I came up with the idea of laser eyes. pic.twitter.com/fXQknaNWvO
— ℂℍ𝔸🕀ℝ𝔽𝕆ℝℂ𝔼 🦡 (@CHAIRFORCE_BTC) 7 October 2022
The iconic symbology was created in February 2021 by a Bitcoin meme known only as CHAIRFORCE. The creator of the meme and his group were simply lovers of Bitcoin who loved Bitcoin and, perhaps more, loved trolling others who didn’t, according to a Bitcoin Magazine piece written by the creator.
Notably, CHAIRFORCE and his friends rolled out the profile pictures after a spark of inspiration when Bitcoin hit the $50k price point with the hashtag #LaserRayUntil100K.
Brandt’s Bitcoin Outlook
It should be mentioned that Bitcoin has not yet reached the long desired price point of $100k. However, the asset has remained constrained by increasingly complicated macroeconomic conditions that have caused investors to take risks.
In particular, Brandt, who has a history of accurately predicting the price action of the leading asset in June, expressed the belief that Bitcoin could fall to $12k.
Despite claiming to be a long-term bull and Bitcoin holder, the veteran trader has continued to warn that the leading asset has as much chance of going to zero as it has to go to the moon. According to Brandt, it is very likely that in the future human ingenuity will give us something that surpasses Bitcoin and renders the asset obsolete in the future.
#bitcoin
I own Bitcoin and accept most of the current bullish narrative
However, we’re going out on a limb to assume that $BTC will forever represent the pinnacle of human ingenuity and achievement and that humanity will not surpass its essentials pic.twitter.com/dsy3VjKrlB— Peter Brandt (@PeterLBrandt) 21 July 2022
Brandt once donned a mild version of the laser eyes as an expression of his skepticism.
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