Now, the strategist whose popularity surged to the moon after he called Bitcoin’s crash back in January 2018 said that he believes investing in BTC is now a no-brainer with massive upside for smart traders.
The Daily Hodl reported that Peter Brandt told BLOCKTV Bitcoin has a 50% chance of total failure and a 50% chance of entering a new parabolic rise that could bring the price of BTC from $50,000 to $300,000.
“I think were going to $50,000, but I don’t know when. Here’s how I look at it: I’m a gambler. And I don’t know anything about BTC. But I don’t have to know anything about football to bet on the New England Patriots. I could be a rugby player and bet on that,” he said.
He continued and explained, “And so I look at Bitcoin, and I say there’s a 50% chance it goes to 0 – it becomes worthless – that the whole narrative is a big scam. But there’s a 50% chance we could go parabolic again. And if we go parabolic again, we can go up to $300,000.”
Brandt also said that it’s a no-brain decision from a trader’s point of view because it’s an asymmetrical trade.
He said that if you manage the trade correctly, there’s a relatively low downside risk.