Economist and crypto trader Peter Brandt has been known for his bold remarks and prediction about crypto tokens. Brandt has extensive experience in commodities trading, and he is currently serving as the CEO of Factor LLC. He is also known in the stock market as a master chartist. Whenever Brandt pens down his opinion, the particular asset market is shaken.
Now his guns are pointed at self-proclaimed third-generation blockchain cryptocurrency called Cardano. According to Brandt, ADA, the native token of Cardano, is about to experience a major correction. In a new tweet, he reiterated his Litecoin crash prediction and everything that comes with it. Brandt said that he is expecting a backlash from the Cardano Community.
Just like a storm is preceded by a period of deadly silence, every altcoin crash is followed by Peter Brandt issuing a prognostic. In 2018, he was among the first analysts to the Litecoin demise. He also foretold that Litecoin would be able to recover not before 2019.
The most important factor about his predictions is that he always shares solid proof and work behind his theories. For LTE/USD pair in 2018, Brandt spotted a triangle pattern that showed LTE going from $315 to $36. In another chart, he used the Head and Shoulder pattern that is a visible indicator of an upcoming decline. Brandt candidly mentioned that he remained the subject of scoffs and sarcasm from crypto community members due to his predictions.
Peter Brandt Faces Backlash from the Cardano Community
While Brandt already braced himself for the impact of sharing his findings, it did not stop the trolls from going all out. One Twitter account that identifies as ADA Whale subtly shared some of the old predictions about Bitcoin that were misfires. Brandt told other investors that it is the job of the analyst to share his predictions without fears or anxieties.
Some invested members of the Cardano community claim that while Bitcoin was going down, ADA stayed above $1. It means that while Bitcoin has started to do well once again, there are few chances of a possible crash. It should be noted that Peter Brandt also identified the Head & Shoulders pattern for Dogecoin before its recent crash.