Buying and selling veteran Peter Brandt is a long-term Bitcoin (BTC) bull, however he’s anticipating Litecoin (LTC) to outperform the main crypto quickly.
The dealer tells his 580,000 Twitter followers that Litecoin is poised for an enormous run after breaking by means of resistance from its September peak of $239.12.
“Litecoin has damaged above September excessive on increasing quantity and WBBs so count on retest of 2021 excessive at $395 or so.”
Brandt didn’t outline the time period “WBBs.” He may very well be referring to wide-bodied bars, as within the physique of the candles getting wider, or the weekly Bollinger bands, a standard buying and selling indicator at present displaying growth for LTC. Regardless, each indicators level to a bullish outlook for the crypto asset.
From a low of $193 this week, LTC has shot up 47% and is at present buying and selling at $283.94.
Apart from Litecoin’s short-term value motion, Brandt is keeping an eye on Bitcoin for the long run as a secure haven towards inflation.
“There’s one factor within the markets I’m completely positive of – the declining worth of the US greenback.
$1 after I was born is price 8 cents in the present day.
$1 in the present day will doubtless be nugatory when my grandkids are my age.
The dealer tells skeptics that he has loads of expertise shorting numerous cryptocurrencies, however has remained lengthy on Bitcoin since April of 2019.
“Be aware to my trolls (assuming you’ll be able to learn).
Let me kind this actually sluggish so that you just would possibly perceive – I’ve solely shorted cryptos as soon as in my life (Nov 14, 2018).
I’ve been regularly lengthy BTC since early Apr 2019. I would like Bitcoin value to go UP (spelled U P).”
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