Peter Brandt is a legendary trader who has historically called the dramatic fall to the Bitcoin bear market low almost a year ahead of time. Could the commodities trader with decades of experience in all markets – who has certainly seen a thing or two in his career – warn of an alleged collapse of the popular cryptocurrency exchange Coinbase?
His tweets seem to imply this, and challenge some growing concerns about the company. Here’s what’s going on in terms of Brandt’s bold claims, and what Coinbase could supposedly be hiding.
Career Trader makes bold calls and predicts Bitcoin Bottom exactly after a year
Words can carry a lot of weight. They have an even greater meaning depending on the mouth they come from and that person’s experience or influence.
When it comes to purely classical technical analysis, few would claim that Peter Brandt is one of the best of the best today. He has nearly 50 years of trading and speculation experience and has recorded everything from corn to manure to bitcoin.
Related reading | Peter Brandt calls for an 80% + drop in Bitcoin price over a year ago with terrifying accuracy
Brandt was a public advocate of the market-cap-leading cryptocurrency, but has also been dubbed a “hater” for his sometimes painful phone calls that bring exuberant investors back to reality – something they tend not to like.
Brandt was labeled as such after calling for a dip below $ 4,000 in January 2018, almost a full year before the cryptocurrency hit such a bear market low.
His experience allows him to see things that others cannot, but are his recent claims about Coinbase issues true?
Brandt's calls have had wizard level accuracy in the past due to his experience | Source: BTCUSD on TradingView.com
Peter Brandt Slams Crypto Exchange Coinbase Over Concerns, “Signs of Trouble Ahead”
Peter Brandt recently launched a tirade on Twitter, blowing up popular cryptocurrency exchange Coinbase and its CEO Brian Armstrong with a series of currently unsubstantiated claims.
Brandt warns that three major brokers went under during his time in the markets and that each one gave the same pointers that Coinbase currently has.
After listing some “signs of trouble,” Brandt tagged the SEC and FINRA Twitter handles and requested a deeper look into the company before going public.
Related reading | Massive Coinbase outflows suggest that Bitcoin price is poised to rebound
Brandt’s whip was eventually tempered, instead leaving tweets with a more wait-and-see tone. He admits that he has no inside knowledge of such a situation – only a strong opinion he shares becomes even stronger when his experience with previous brokers provides the necessary conviction.
Coinbase has only had a clear track record to date, and while there has been controversy over fees or even unscheduled downtime, there has never been any evidence of wrongdoing. Brandt’s foresight has been right in the past – will he see something again that the rest of the market can’t?
Featured image from Deposit Photos, Charts from TradingView.com