Pro Trader Peter Brandt Says Bitcoin Halving ‘Will Be a Non-Event’

Veteran trader Peter Brandt has said the upcoming bitcoin halving successful 2024 and the “inevitable” support of a Bitcoin ETF by the U.S. are apt to beryllium non-events. Brandt claimed that portion the apical cryptocurrency’s correlation to different markets is simply a non-starter, bitcoin’s presumption connected “top of [the] nutrient chain” is the lone happening that matters.

Spot Bitcoin ETF Approval ‘Inevitable’

Veteran trader Peter Brandt has said the much-anticipated Bitcoin halving lawsuit is apt to beryllium a non-event due to the fact that “markets discount successful advance.” In his July 27 tweet, Brandt said helium believes the “inevitable OK of a $BTC ETF [exchange traded fund] successful the U.S. volition beryllium [a] non-event.”

Three things I judge astir Bitcoin
1. The inevitable OK of a $BTC ETF successful U.S. volition beryllium non-event
2. BTC halving volition beryllium a non-event
Markets discount successful advance
3. BTC's correlation to different mkts is simply a non-starter. BTC volition beryllium apical of nutrient chain. That's the lone happening that matters pic.twitter.com/2l0CxAyZ4T

— Peter Brandt (@PeterLBrandt) July 27, 2023

Brandt’s comments look to contradict the forecasts by immoderate bitcoiners who judge that the 2 events volition thrust up the terms of BTC. To illustrate, terms predictions connected Changelly suggest that BTC volition spell past $50,000 successful 2024, the twelvemonth the apical crypto is expected to halve for the 4th time.

Bitcoin’s Sovereignty and Marxism

On the different hand, Brandt’s content that the support of Bitcoin ETFs is improbable to thrust up the cryptocurrency’s terms appears to contradict the latest Coingecko data, which suggests that Blackrock’s ETF filing had propelled BTC successful Q2, 2023. However, successful his tweet, Brandt told his followers that the lone happening that matters is bitcoin’s undisputed presumption arsenic the fig 1 crypto asset.

“BTC’s correlation to different markets is simply a non-starter. BTC volition beryllium apical of nutrient chain. That’s the lone happening that matters,” the seasoned trader concluded.

Meanwhile, successful the aforesaid tweet, Brandt warned that the U.S. authorities volition proceed to combat against the state of citizens to ain oregon usage bitcoin. He said this would beryllium accordant with Washington elites’ “desire for a neo-Marxist state wherever the national govt is sovereign implicit each else.” Bitcoin, helium said, “seeks its ain sovereignty” and is truthful a foe of Marxism.

When asked wherefore helium is assured that spot Bitcoin ETF applications volition get support and astir the apical cryptocurrency’s fate, Brandt said the assemblage is inactive out.

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