I Would Take Long Position in ETH, Peter Brandt Says After Bashing Ethereum

Renowned trader Peter Brandt admitted that he would trade ETH despite his recent critique against it

Savvy commodity trader Peter Brandt has posted another Ethereum-themed tweet. This time, however, it was not as harsh as the one the trader posted earlier today, when he labeled ETH a “junk coin.”

The legendary trading expert tweeted that since he is a chart-based swing trader, believing ETH to be junk would not stop him from “taking a leveraged long position in ETH if the charts so indicated.” A chart is a chart, he added.

Earlier today, Brandt proclaimed ETH a junk coin “despite mindless devotion of Etheridiots.” Brandt believes that Ethereum cannot compete with Bitcoin as a store of value (“a BTC pretender”). Ethereum’s functionality is junk, he believes, since ETH is hard to use with its layer-2 solutions and the tremendous transaction fees on this blockchain.

Brandt is certain, however, that Ethereum will always attract “investors,” most likely meaning “Etheridiots.” In late December last year, the trader admitted to having just shorted Ethereum.

About the author

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.