• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
bitcoin laser eyes bear market
Nexo

How Laser Eyes Could Have Bitcoin Investors Seeing Red

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin
0

Bitcoin price has been an uptrend for a full year now, taking the price of the cryptocurrency from under $4,000 to well over $50,000 at the current peak. With analysts calling for a top closer to $100,000 or much higher, it is hard to be bearish on the top crypto asset currently. However, an iconic trader with extensive experience in markets says there’s one overwhelmingly bearish factor in Bitcoin, and its not what you would expect.

The reason isn’t a fundamental factor, or an overheated technical indicator – it is “laser eyes.” But why?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Peter Brandt: Laser Eyes Is The Most Bearish Factor In Bitcoin

Bitcoin is booming, bringing in retail participants once again, but this time around has also managed to finally attract institutional investors. The impact the high wealth investor class has had on price appreciation has been dramatic, resulting in an over 1000% climb in a year’s time.

Outflows from top cryptocurrency exchanges top over 10,000 BTC per week and have yet to subside even though price action has recently taken a pause. On-chain metrics and technicals both appear to support a sustained uptrend for a while longer, yet a career commodities trader that has accurately predicted major Bitcoin trend changes in the past, is calling attention to what they say is the “single most bearish factor” plaguing the cryptocurrency currently: laser eyes.

RELATED READING | COINBASE CONSIDERS BITCOIN CREATOR A RISK TO BUSINESS, HERE’S WHY

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Laser eyes is a meme that’s recently made its way across crypto Twitter, involving users updating avatars to include red lasers for eyes. The trend has been joined by the likes of Elon Musk, Anthony Scaramucci, MicroStrategy CEO Michael Saylor, and even members of Congress.

bitcoin btc laser eyes bearish

It is hard to be bearish on Bitcoin currently given the last bull run | Source: BTCUSD on TradingView.com

But why exactly is Peter Brandt so bothered by the meme culture spreading across crypto currently? He says it is not only “obnoxious,” but “it is stupid” and if supporters want Bitcoin to be taken seriously, the community should stop acting like “children.”

Brandt’s statement echoes the sentiments of Black Swan author Nassim Nicholas Taleb, who bashed the investor category as “sociopaths with the sophistication of amoebas.” While that is an extreme claim, what has also been extreme has been the exuberance in the market.

RELATED READING | THIS BITCOIN METRIC SHOWS JUST HOW FAR AWAY THE TOP COULD BE

Brandt continues that “unbridled enthusiasm” and “FOMO buying usually” typically result in a deep or long correction. Bitcoin has been on a parabolic rise since March of last year, and March is historically the worst month on record in the cryptocurrency market.

In the past, Brandt actually called the bottom range months in advance following a breakdown of Bitcoin’s parabola. When a parabolic advance is broken, the trader says, the asset typically declines by around 80%.

Past Bitcoin bear markets have been characterized by a drop that far. Could that be what’s ahead in Bitcoin with exuberance reaching extremes such as memes and laser eyes?

Featured image from Deposit Photos, Charts from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin

Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity

1 hour ago
Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

5 hours ago
US Justice

US Justice Department Executes First Criminal Crypto Charge

6 hours ago
Texas, a huge boot in front of a store

Bitcoin & Energy Merge In Texas: 3 Giant Companies Announce New Mining Facility

19 hours ago
El salvador

44 Countries Set To Meet El Salvador To Discuss Bitcoin, Here’s What We Know

1 day ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.