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Peter Brandt is a well-known investor who predicted the sharp plunge to the bottom of the Bitcoin bear market almost a year ago. Will a commodity broker with decades of experience in all things markets – who has undoubtedly seen a few things in his lifetime – now be forewarning of the alleged failure of the famous cryptocurrency exchange Coinbase?
His tweets tend to suggest this, casting doubt on many mounting questions about the firm. Here’s what’s going on with Brandt’s bold promises, and what Coinbase may or may not be hiding.
Words have a lot of strength. They carry much more weight based on who said them and how much expertise or clout that person possesses.
Few will contend that Peter Brandt is among the finest of the best living today when it comes to pure classical technical study. He’s been investing and speculating for almost 50 years, and he’s charted everything from corn to manure to, of course, Bitcoin.
Brandt has been a strong advocate of the leading cryptocurrency by market capitalisation, but he has also been branded a “hater” due to his often painful calls that put exuberant investors back to earth – something they don’t like.
Brandt was branded as such after predicting a decline to under $4,000 in January 2018, almost a year before the cryptocurrency hit such a bear market bottom.
His experience helps him to see things that others cannot, but are his most recent comments about Coinbase problems correct?
Brandt's calls have had wizard level accuracy in the past due to his experience | Source: BTCUSD on TradingView.com
Peter Brandt Slams Crypto Exchange Coinbase Over Concerns, “Signs Of Trouble Ahead”
Peter Brandt recently went on a Twitter rampage, bashing famous cryptocurrency exchange Coinbase and its CEO Brian Armstrong with a slew of unsubstantiated allegations.
Brandt warns that in his tenure in markets, he has seen three big brokers fail, and one of them gave the same warning signs that Coinbase is now giving.
Following a list of some “signs of trouble ahead,” Brandt tagged the SEC and FINRA on Twitter, requesting a deeper dive into the business ahead of any IPO.
Brandt’s outburst was finally cooled, and he later left behind tweets in a more “wait and see” attitude. He acknowledges he has no insider knowledge of such a situation existing – only a firm opinion that he claims becomes much stronger as he recalls his previous dealings with brokers.
So far, Coinbase has only had a clean track record, even although it has been the subject of criticism over payments or even unscheduled downtime, there has never been any suggestion of misconduct. Brandt’s predictions have historically been correct; is he doing anything that the rest of the market isn’t?