Veteran Trader Advises ‘Gen Zs’ To Set Aside Savings On Bitcoin And Hold

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It’s time for the new and younger generation to invest in Bitcoin. At the very least, this is recommended by veteran businessman and popular commentator Peter Brandt.

Brandt suggests that members of the “Gen Z” receive a diploma in an area where they can quickly find a well-paying job while avoiding student debt if possible.

He referenced the largest cryptocurrency by market capitalization, Bitcoin, in his discussion of investing.

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Brandt believes they should invest a majority of their savings in the world’s most sought-after crypto assets and strong companies.

Brandt stated that even though Bitcoin is still “generally” unreliable and unproven by a huge number of people as well as local governments to date, it can involve a variety of trends that can extend invested value on a specific cryptocurrency.

Crypto As A Wise Investment

Brandt, the founder and CEO of Factor LLC, has been trading in goods for over 40 years and has been a well-known analyst and investor ever since.

His claim to fame rightly predicted the sharp fall in the price of Bitcoin in 2018. He took to Twitter to provide financial advice to Millennials and Generation Z.

He highlighted Bitcoin as a good investment in cryptocurrency in terms of current market viability.

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Total crypto market cap at $1.711 trillion on the daily chart | Source: TradingView.com

Brandt’s predictions about Bitcoin

According to Brandt, Bitcoin is almost halfway through its current low-priced bull market.

He pointed out that the long-term Bitcoin market is still intact. His technical analysis indicates that it may continue to rise, albeit with some corrections along the way.

Based on its long-term trend channel, he predicts that bitcoin will reach $ 180,000 to $ 200,000 by the third or fourth quarter of this year.

According to a recent Deutsche Bank survey, more than a fifth of Bitcoin investors believe that the price of the cryptocurrency will exceed $ 110,000 in five years.

Wealth Store

Brandt fervently stated that rallies and corrections could be possible for the famous cryptocurrency due to its familiarity with its market trends and that Bitcoin is taking on the role as a store of wealth and exchange.

“It’s a binary bet. It will be the best of what people want it to be, or it will be nothing, ”he said.

However, as long as investors and people alike continue to set high standards and transactions on the cryptocurrency, it will act as it is supposed to – a means of financial compliance.

Bitcoin Today

Meanwhile, Bitcoin (BTC) is currently trading around $ 39,130.05representing a 1.54% increase over the last 24 hours.

According to Coindex Statistics, its highs reached $ 40,222.40, while its lows remained above the $ 37,000 barrier at $ 38,335.60.

Bullish patterns are expected to emerge as March progresses, however the current volatile index may decrease bullish opportunities for Bitcoin due to global events and market changes.

Related Article | Bitcoin on the Way to Hit $ 100K Nine Months From Now, Bitbull CEO Predicts

Featured image from CNBC, chart from TradingView.com

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