Veteran trader Peter Brandt’s latest remarks mocked crypto traders crypto memes who are still using laser eyes and quickly from bitcoiners on Twitter It provoked an angry response from bitcoiners on Twitter. One very well-known bitcoiner, Michael Saylor, reminded Brandt that laser eyes signify “a long-term commitment to bitcoin based on its ethical, technical, and economic superiority over alternative assets.” John Bollinger, technical analyst and inventor of the Bollinger Band technical indicator, suggested that Brandt’s tweet was “a little mean.”
All BTC’spurchased in 2021 are now “losing trades”
Veteran trader Peter Brandt recently reignited a feud with bitcoiners who use the laser-eyed crypto meme after reminding them that all bitcoin purchased in 2021 is a “losing trade” at the moment.Brandt said that crypto will be at 2022 He added that even he could not have predicted that it would trade for less than $20,000 in October.
In response to the veteran trader’s tweet, Michael Saylor, who recently resigned as CEO of MicroStrategy, explained why he and other bitcoiners are still committed to the Laser Eye cause. He states.
Laser Eye represents a long-term commitment to Bitcoin based on its ethical, technical, and economic advantages over alternative assets. All major financial asset classes have lost trades in the past year. That’s why we don’t trade, we hod.
Saylor’s statement was echoed by another Twitter user named Steven Rivera, who claimed that an important goal of those attributed to the Laser Eye movement is to “increase the number of sats accumulated and freedoms won.” Additionally, this user also appeared to attack Brandt’s use of technical indicators when trying to understand the future price movements of an asset.
“Predicting short-term price movements is a fool’s errand. Growing the movement and moving forward is the real goal,” Rivera tweeted.
Alex Gladstein, a human rights advocate and supporter of Laser Eye, reminded Brandt that “the idea was simply to put them on a journey to $100,000.” Gladstein predicted that the laser eye movement would not relent until oneBTCequals $100,000.
When one Twitter user called Bazooka responded to Brandt’s tweet, claiming to have boughtBTCwhen the crypto asset’s USD value was between $17,000 and $18,000, the veteran trader user fired back by reminding him that “BTCnever traded; BTCnever traded below $24,000 in 2021.”
The Dangers of Dogmatic Thinking
But when John Bollinger, technical analyst and inventor of the Bollinger Band, suggested that Brandt’s tweet was “a little mean,” the veteran trader agreed
but insisted that its purpose was to remind supporters of the Laser Eye movement of “the dangers of dogmatic thinking.”
During the 2021 crypto bull market, many bitcoin maxis began adding red laser eyes to their social media profile pictures. The use of the red laser eye then demonstrated the bullish attitude of the holders. As the movement grew in popularity, Brandt became one of the first prominent traders to question the movement’s comparison to a cult.
For example, on March 31, 2021, when Bitcoin was trading at over $58,000, Brandt said.
“When $BTCexperiences a $50,000 correction and many of you trade lasers for tears, I will use laser eyes.”
A few months after Brandt said this, bitcoin went on to hit an all-time high of $68,789.63. Since then, however, the top cryptocurrency has trended downward, trading primarily between $23,000 and $18,000 since September 1, 2022.
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