Commodity Trader Says Bitcoin Could Go To Zero

- Peter Brandt says Bitcoin could go to zero.
- He believes the is a 50% chance of that happening.

Commodity trader Peter Brandt has said that he believes there is a 50% chance that the price of Bitcoin could collapse to zero. Brandt, who is a chartist, has been predicting this outcome for some time.

Brandt says that the reason for his prediction is that Bitcoin is a highly volatile asset that is not backed by any underlying assets. He also says that Bitcoin is not a practical currency, as it is too slow and expensive to use.

However, Brandt also says that there is a chance that Bitcoin could go up to $250,000. He says that this is because Bitcoin has an “asymmetrical reward-to-risk trade.” This means that the potential rewards of investing in Bitcoin are much greater than the potential risks.

Brandt’s prediction is in line with the views of other analysts who have also warned that Bitcoin is a risky investment. For example, Charlie Munger, the right-hand man of legendary investor Warren Buffett, has said that Bitcoin is “stupid” and “evil.”

However, there are also analysts who believe that Bitcoin is a sound investment. For example, Input Output CEO Charles Hoskinson has predicted that there will be more Bitcoin outside the main chain than there is within the main chain five years from now. Hoskinson believes that Bitcoin will be used by smart contracts, all sorts of decentralized applications, and nation-states.

Only time will tell whether Brandt’s prediction will come true. However, it is clear that Bitcoin is a highly volatile asset that carries a high degree of risk. Investors should carefully consider the risks before investing in Bitcoin.