Bitcoin advocate, Peter Brandt, a veteran trader, believes that there won’t be another significant price dip for BTC. Thus, the opportunity is gone. In a recent interview, he expounded on his vision of the price of Bitcoin. He thinks that even though many people are skeptical, the floor has already been hit. This means that BTC/USD has reached the bottom. “They all now want to sit and buy a break back to $6,000 or $5,000 and they’ve missed the bottom — and during that bottom, I think you had a lot of people accumulate with strong hands,” he summarized.
Grayscale a well-known institutional investment firm in the cryptocurrency space revealed that institutional investment into crypto skyrocketed in 2019. Specifically, Grayscale recorded inflows of more than $600 million in 2019, which is more than the inflows from 2013 through 2018 combined.
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‘Weak hands are out’ – Peter Brandt
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