Fun

Veteran Trader Peter Brandt Suggests All BTC Acquired in 2021 Is ‘a Losing Trade’ — Reignites Feud With Laser Eyes Movement

News Feed - 2022-10-09 05:10:18

Veteran Trader Peter Brandt Suggests All BTC Acquired in 2021 Is "a Losing Trade" — Reignites Feud With Laser Eyes Movement


Veteran trader Peter Brandt’s latest remarks which mock crypto traders still using laser eyes crypto memes have sparked an immediate and angry response from bitcoiners on Twitter. One very famous bitcoiner, Michael Saylor, reminded Brandt that the laser eyes signify “a long-term commitment to bitcoin based on its ethical, technical, and economic superiority to alternative assets.” Technical analyst and inventor of the Bollinger Bands technical indicator, John Bollinger, suggested that Brandt’s tweet was “a bit mean.” All BTC Purchased in 2021 is Currently ‘a Losing Trade’


Veteran trader Peter Brandt recently reignited his feud with bitcoiners who use laser eyes crypto memes after he reminded them that every bitcoin purchase in 2021 is at the moment “a losing trade.” Brandt added that even he could not have predicted that the crypto would be trading under $20,000 in October 2022.



In response to the veteran trader’s tweet, Micheal Saylor, who recently left his position as CEO at Microstrategy, explained why he and other bitcoiners are still committed to the laser eyes cause. He said: Laser eyes signifies a long-term commitment to bitcoin based on its ethical, technical, and economic superiority to alternate assets. All major financial asset classes have been losing trades over the past year. That is why we don’t trade, we hodl.


Saylor’s remarks were echoed by another Twitter user named Stephen Livera who insisted that the key aim of those ascribing to the laser eyes movement is “to increase our number of sats stacked and freedom acquired.” In addition, the user also appeared to attack Brandt’s use of technical indicators when seeking to understand an asset’s future price movement.


“Predicting short-term price movements is a fool’s errand. Growing and advancing the movement is the real goal,” Livera tweeted.


Alex Gladstein, a human rights defender and supporter of laser eyes, reminded Brandt that “the idea was simply to put them on for the journey to $100k.” Gladstein predicted that the laser eyes movement is not going to relent until one BTC is equal to $100,000.


When one Twitter user called Bazooka responded to Brandt’s tweet by claiming to have bought BTC when the crypto asset’s U.S. dollar value was between $17,000 and $18,000, the veteran trader shot back by reminding the user that “BTC never traded under $24,000 in 2021.”


Dangers of Dogmatic Thinking


However, when John Bollinger, a technical analyst and inventor of the Bollinger Bands, suggested that Brandt’s tweet was “a bit mean,” the veteran trader concurred but insisted his aim was to remind supporters of the laser eyes movement of the dangers “of dogmatic thinking.”



During the 2021 crypto bull market, many bitcoin maxis began adding red laser eyes to their social media profile pictures. Using the red laser eyes then signified the holder’s bullishness. As the movement was gaining traction, Brandt became one of the first prominent traders to question the movement, which he compared to a cult.


For instance, on March 31, 2021, when bitcoin was trading above $58,000, Brandt said:


“I will use my laser eyes when $BTC experiences a $50,000 correction and many of you swap your lasers for tears.”


Months after Brandt said this, bitcoin went on to hit an all-time high of $68,789.63. However, since then, the top cryptocurrency has trended downwards and has primarily traded between $23,000 and $18,000 since September 1, 2022. Tags in this story Alex Gladstein, bitcoin all time highs, bitcoin hodler, bitcoin maximalist, BTC, Cryptocurrency, John Bollinger, michael saylor, Peter Brandt, Satoshi, sats


What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’ NEWS | 2 hours ago Visa Partners With FTX to Roll out Crypto Debit Cards in 40 Countries NEWS | 6 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSalvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

Charles Schwab Strategist Skeptical of Crypto — Puts Faith in Banking System, Federal Reserve
Charles Schwab Strategist Skeptical of Crypto — Puts Faith in Banking System, Federal Reserve Charles Schwab’s chief investment strategist says she puts
Ripple CEO Anticipates Answer in SEC Lawsuit Over XRP in the First Half of 2023
Ripple CEO Anticipates Answer in SEC Lawsuit Over XRP in the First Half of 2023 Ripple CEO Brad Garlinghouse says he thinks “we’ll have an answer in the first half of
Anchorage Obtains Federal License to Operate as Crypto Bank
Anchorage Obtains Federal License to Operate as Crypto Bank The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to crypto c
Galaxy Digital Reveals Bold Dogecoin Price Prediction For 2025
Este artículo también está disponible en español. Every year-end, some of the top crypto analysts and crypto firms reflect on the industry’s performance, and look forwa
Huobi’s ‘Regulator-Friendly’ Blockchain Goes Open Source
Huobi Chain, the regulator-facing public blockchain of exchange Huobi Group, is now open source and publicly available to all developers on GitHub, the firm said Tuesday. Nervos, a
Montenegro arrests executive suspected of $21M crypto fraud
Jesse Coghlan5 hours agoMontenegro arrests executive suspected of $21M crypto fraudMontenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital
Felix Ng2 hours agoPoland probing OpenAI, ChatGPT following GDPR complaintPoland’s data protection watchdog has confirmed it has opened an investigation into OpenAI over a complaint it received from an applicant.639 To
Amon, AI-Powered Crypto Wallet and Card Is Fundraising on BnkToTheFuture
Amon, AI-Powered Crypto Wallet and Card Is Fundraising on BnkToTheFuture PRESS RELEASE. Amon, known for their innovative app that aims to make using digital curr
Coinbase cites Binance BNB token precedent in SEC petition
Vince Quill5 hours agoCoinbase cites Binance BNB token precedent in SEC petition“Rulemaking is required here because the SEC has adopted a novel and sweeping, yet still indeterminate, view of the securities laws,” at
Crypto Donations Pour in After Ukraine Government Asks for Bitcoin and Ether — $17 Million Raised so Far
Crypto Donations Pour in After Ukraine Government Asks for Bitcoin and Ether — $17 Million Raised so Far Ukraine has raised more than $17 million in cryptocurrency donations sinc
Sygnum bank to tokenize $50M of Matter Labs’ reserves for transparency
Derek Andersen5 hours agoSygnum bank to tokenize $50M of Matter Labs’ reserves for transparencyThe crypto-forward banking group is tokenizing funds in the Fidelity Institutional Liquidity Fund, the first time it has to
New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender
New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender On July 28, Zac Prince, the CEO of crypto finance firm Blockfi, explained t