Peter Brandt, a veteran trader with over 40 years of experience, shared advice for newcomers in the financial markets, highlighting the importance of long-term investments.
Tips for Beginners
In a recent post on platform X, Brandt advises newcomers not to trade but to invest in the market through ETFs like SPY and QQQ, as well as adding Bitcoin to their portfolio. He believes most people are not suited for trading and lose money trying to outsmart the market.
Technical Analysis of Bitcoin
A week prior, Brandt shared a chart indicating the potential for a sharp decline in Bitcoin's price. He noted that a sideways consolidation pattern is forming near recent highs, reminiscent of the situation right before the market crash in late 2021. He warned that if this pattern repeats, BTC could fall by 75%.
Market Expectations
Some expressed concerns, citing stronger fundamentals and rising production costs for Bitcoin mining. However, Brandt disagrees, stating that market prices are determined by supply and demand, not production costs. He emphasizes that the real risk lies not in holding Bitcoin long-term but in overestimating one's ability to time the market correctly.
Peter Brandt's advice offers an alternative approach to investing, emphasizing the importance of understanding market rules and following a long-term strategy for successful asset management.
