Bitcoin News: Peter Brandt, the CEO of Factor Trading and a legend in the commodity investment realm states that he “believes in the bitcoin narrative,” in an interview with CoinTelegraph.
While discussing the current bear market, Brandt firstly suggested that the “best things you can do [in trading]” is to keep one’s money intact, implying that contrary to the current belief “HODLing” or risky day trading cannot produce stellar profits in the long run.
Furthermore, he pointed out that a current lot of active traders tends to “miss the big moonshot when it comes,” majorly because they keep a day-to-day perspective, eyeing short-term indicators and ignoring the bigger picture. The American trader, who has authored a number of essential trading primers, added that he’s becoming a “long-term buyer and holder of BTC.” In saying so, he also mentioned altcoins such as Ethereum (ETH) and XRP, saying that he has “no time” for other “old coins” or macro caps.
Brandt further elaborated his affixation with BTC, noting that he’s a BTC guy through and through as he believes in the asset’s narrative of being a good digital store of value and the world’s most secure transaction settlement layer. Explaining his aversion towards the altcoins he states that according to him ” 98% to 99% of the coins out there are going to eventually be worthless.”
Read more: Circle Co-Founder Asserts That Bitcoin Will Be Worth ‘Great Deal More’ In Three Years