Veteran Chartist Peter Brandt rose to fame in the 1970s when he began to engage in the commodity trade. On Saturday January 8, he posted a tweet in which he said that Ether (ETH) was already trending down.
Peter Brandt on Ethereum (ETH) and Solana (SOL)
One of the most influential people on crypto Twitter describes the second largest blockchain as “Too complicated”, “Expensive” and “Uncomfortable”.
It indicates that the delay of the cryptocurrency compared to Solana (GROUND), the token behind one of the main “Ethereum killers”, was “Fully justified”.
The SOL token now sits in sixth place in market capitalization after impressive growth in 2021, but it still has some way to go if it wants to overtake ether.
Ethereum community reacted to Brandt’s forecast for the market bearish : some of its members have stated that one can use a trader’s tweets as an indicator of contrast (the logical relationship between the two simple comparable judgments, which excludes their simultaneity from the truth, but does not exclude the simultaneous use of lies). Apparently, they had in mind that the judgments of traders were conflicting.
Brandt responded, and joked that there was a need to buy more cryptocurrency when talking about a downtrend and vice versa.
Earlier this week, the trader also attempted to warn bitcoin buyers against capturing the “Falling knife” against the backdrop of the continued fall of the main cryptocurrency.
Ether (ETH) is already losing ground, according to U.today: since January 1, it has fallen by more than 20%. On January 8, the price of ETH fell to $ 3,000 on Coinbase, this is the lowest level since September 30. Its rate against bitcoin also fell by 6%.
Many crypto experts and traders are making predictions about the future of the second cryptocurrency. However, we suggest that you stay on Cointribune so that you don’t miss any news about the biggest altcoin.
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