Peter Brandt Suggests It Could Be Time To Buy Bitcoin

The financial markets are driven by bulls and bears, and investors need to be on the lookout for signs that orient them on when to buy and sell an asset.

The old-time trader, Peter Brandt, recently tweeted involving Bitcoin and its actual sentiment.

He claimed that the “laser eyes” bulls were a top signal back in March/April 2021 and now those same bulls are too bearish, so this could be time to buy Bitcoin:

I find it fascinating that many (not all) on social media who wore laser eyes in Mar/Apr and predicted a rocket shot 🚀for $BTC in Nov now are predicting that the $30k level will be violated

When bulls wear laser eyes — time to SELL
When bulls become bears — time to BUY???? pic.twitter.com/ytchaFLDfN

— Peter Brandt (@PeterLBrandt) January 30, 2022

Last week, he shared on his Twitter account the following story of his past trading experience:

“Back in my days at the Chicago Board of Trade the clue that a massive bear market was near an end was when the bathroom stalls will all occupied with traders on their knees worshiping the porcelain alter”.

Peter Brandt Recent Comments About Bitcoin

During a CoinDesk interview on January 25, Peter Brandt talked about Bitcoin. He commented the following: “So what that we have a 50% correction? … Greed puts in tops, fear puts in bottom.”

On January 22, he said in his Twitter account that finally there has been higher volume capitulation selling BTC, by replying to an older tweet of December 20 of 2021 where he said that “Key bottoms in $BTC have occurred with high volume panic capitulation.”

Bitcoin So Far in 2022

The biggest cryptocurrency by market capitalization is trading at $37,339.09 at the time of writing. Bitcoin has a market capitalization of $707.5 billion and it’s down 1.37% in the last 24 hours, but it is still down 45.6% from its all-time high in November 2021 of almost reaching $69,000.

January hasn’t been a very good month for Bitcoin, it started the year trading around $46,700. On January 24, Bitcoin hit a low of $32,900, but as of today’s price, it is still down 20% in comparison to the beginning of the year, as you see below:

Nobody can really know where Bitcoin is headed in the future, but traders like Peter Brandt can compare it with previous historic data to have some idea of where the market could be going.