Veteran Trader Peter Brandt Shares ‘Sacred Trading Rule’ as Bitcoin Falls, Warns Against Buying the Dip

Veteran trader Peter Brandt has shared “a ineffable trading rule” helium uses successful effect to a remark astir buying bitcoin arsenic the terms of the cryptocurrency continues to fall. “Never adhd to a losing trade,” helium affirmed.

Peter Brandt Offers Trading Advice

Veteran trader Peter Brandt has a trading proposition for anyone considering buying the dip. Brandt has been a futures and FX vocation trader since 1975. He is simply a chartist and the writer of the Factor Report. He trades a assortment of markets, including Dow futures, bonds, corn, crude oil, European wheat, Osaka Dow, U.S. dollar, and sugar.

Replying to a remark connected Twitter stating that determination whitethorn beryllium further opportunities for semipermanent hodlers to bargain adjacent cheaper bitcoin successful the coming months, Brandt wrote:

A ineffable trading regularisation I person utilized is ne'er adhd to a losing trade.

He explained successful a tweet that radical were saying the aforesaid happening astir metallic futures successful 1980 aft it topped $50. “lt past sank to a debased of $3.65 and did not commencement backmost up for 24 years,” helium stressed. The trader clarified, however, that helium is not predicting that bitcoin volition travel the aforesaid path.

The terms of bitcoin has fallen importantly this week, losing implicit 10% successful the past 7 days. At the clip of writing, the terms is $41,657.45 based connected information from Bitcoin.com Markets.

Brandt commented connected bitcoin’s usurpation of the parabolic beforehand connected the Bitcoin Live treatment Thursday.

Bitcoin’s investigation illustration posted by Peter Brandt connected Twitter. Source: Twitter.

However, helium tweeted Friday: “I saw the usurpation of the parabolic beforehand and commented connected it successful existent clip to members of Bitcoin Live successful existent time, but successful hindsight, I mightiness not person taken the lawsuit earnestly enough. We’ll see.”

He followed up with different tweet. Noting that “Some presumption predictions arsenic a ‘one-and-done’ event. I americium [a] pupil of Bayesian probability. Predictions and investigation indispensable ever morph comparative to the events of the time,” helium concluded:

When circumstances change, predictions indispensable change. The parabola mightiness not beryllium the driving unit successful BTC.

What bash you deliberation of Peter Brandt’s advice? Let america cognize successful the comments conception below.

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