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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Buying Bitcoin Might Be Good Call For The Young, Legendary Trader Peter Brandt Says

Reynaldo Marquez
Reynaldo Marquez
1 year ago
3 mins read
Bitcoin

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Bitcoin was rejected north of $40,000 after a short live rally push it into previous highs. Persistent selling pressure and uncertainty around the global situation, and an incoming shift in central banks monetary policy, seems to be taking a toll on the crypto market.

Related Reading | Bitcoin Falls Below $40,000 Trimming The Gains From US Crypto Order

As of press time, Bitcoin trades at $38,790 with a 1.2% loss in the last 24-hours.

Bitcoin BTC BTCUSD
BTC moving sideways on the daily chart. Source: BTCUSD Tradingview

Via Twitter, legendary trader Peter Brandt gave “Gen Z” life advice and talked about the importance of making monthly savings in Bitcoin, stocks, and solid companies. As the world enters a period of potentially further uncertainty, Brandt’s message to younger generations was just to simply “HOLD”.

With decades of experience trading the legacy financial system, Brandt also advice “Gen Zers” to think about the market as a “hobby”. In that sense, he advised them to “secure a good job”, to be “frugal”, to get a degree on an area which can provide jobs opportunities, and to stay active in the market while hoping for lower prices in solid assets.

As he advised younger generations to avoid student debt, the Legendary trader said:

Getting a university degree is HUGELY over-rated. Entering a skilled trade is a very legitimate career path. Have a friend whose child just signed a $200k bonus as high-tolerance computerized lathe engineer.

Current market conditions could turn unfavorable for new Bitcoin or crypto traders, the price of the benchmark crypto has been moving sideways, without clear direction, since the start of 2022. In that sense, other investment strategies could result more favorable.

Brandt added reiterating his, sometimes controversial, position in the crypto market as a whole:

I am also very favorable toward rental income property. Between quality stocks and crypto I prefer quality stocks. Crypto is still unproven IMO. Avoid 8hitcoins and jpgs. Hope for a bear market so that stocks can be bought cheaply.

Bitcoin Reacts To Macro Factors, What Could Break The Range

In the short, Bitcoin’s price action seems to have been influenced by events in the White House as U.S. President Joe Biden signed an executive order regarding cryptocurrencies. BitBank’s analyst Yuya Hasegawa believes BTC experienced a “sell the fact” event.

The upside momentum of the last week had a similar origin, as Hasegawa said:

The Treasury’s statement to the executive order had been temporarily leaked on Wednesday, which turned out to be a positive revelation for the crypto industry and sent the price of bitcoin from $39k to around $43k, but the president’s signature triggered rounds of sell orders as if short-term traders were waiting for that moment.

However, sellers were reinvigorated by a hike in inflation expectations, the analyst added. The U.S. Consumer Price Index (CPI) continues to trend higher alongside commodities:

The rising inflation and high commodity prices are pushing up inflation expectations, while pushing down real yields on treasury bonds, which is likely one of the reasons why bitcoin has been maintaining a range-bound move.

Related Reading | Bitcoin Outflows Spike As 30k BTC Exits Exchanges, Reserve Plunges Down

BTC’s price will continue to be affected by the performance in the stock market, and could benefit from a cease fire in the Russia-Ukraine conflict.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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