It’s time for the new and younger generation to invest in Bitcoin. At least that’s what veteran trader and popular commentator Peter Brandt recommends.
Brandt suggests that “Gen Zers” get a degree in a field where they could quickly find a well-paying job while avoiding student debt, if possible.
He referenced the largest cryptocurrency by market capitalization, Bitcoin, in his investment discussion.
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Brandt believes that they should invest the majority of their savings in the world’s most sought-after crypto asset and solid company stocks.
Brandt said that even though Bitcoin is still “generally” unreliable and unproven by a large number of people as well as local governments at present, it can involve various trends that can elongate the value invested in a crypto- specific currency.
Crypto as a smart investment
Brandt, Founder and CEO of Factor LLC, has been trading commodities for over 40 years and has been a well-known analyst and investor ever since.
His claim to fame correctly predicted Bitcoin’s steep price decline in 2018. He took to Twitter to provide financial advice to millennials and Gen Z.
He singled out Bitcoin as a good cryptocurrency investment in terms of current market viability.
Total crypto market cap at $1.711 trillion on the daily chart | Source: TradingView.com
Brandt’s Bitcoin Predictions
According to Brandt, Bitcoin is almost halfway through its current bull market from a low price.
He pointed out that the long-term Bitcoin bull market is still intact. Its technical analysis indicates that it could continue to rise, but with some corrections along the way.
Based on its long-term trend channel, it predicts that bitcoin will reach $180,000 to $200,000 by the third or fourth quarter of this year.
According to a recent survey by Deutsche Bank, more than a fifth of Bitcoin investors believe the price of the cryptocurrency will exceed $110,000 in five years.
Brandt eagerly stated that rallies and corrections could be possible for the famous cryptocurrency due to its familiarity with its market trends and Bitcoin taking on the role of a store of wealth and a medium of exchange.
“It’s a binary bet. It will be the best of what people want it to become, or it will become nothing,” he said.
Yet, as long as investors and individuals continue to set high standards and transactions for cryptocurrency, it will act as it is meant to – a means of financial compliance.
Meanwhile, Bitcoin (BTC) is currently trading at around $39,130.05an increase of 1.54% over the past 24 hours.
According to Coindex Statistics, its highs reached $40,222.40, while its lows remained above the $37,000 barrier at $38,335.60.
Bullish patterns should emerge as March progresses, but the current level of volatility could reduce the bullish opportunities for Bitcoin due to global events and market shifts.
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Featured image from CNBC, chart from TradingView.com