• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt

Tony Spilotro by Tony Spilotro
2 years ago
in Cryptocurrency news, Bitcoin, Ethereum, Litecoin, Ripple
Reading Time: 3min read
altcoins student debt crypto bitcoin
Advertisement

Back at the end of the crypto hype bubble in 2017, altcoins like Ethereum, Litecoin, and Ripple, and even more obscure altcoins were all expected to be a revolutionary breakthrough in financial technology. Hopes were high for the emerging asset class, and retail investors flocked to the crypto market in hopes of finding the next Bitcoin.

These days, altcoins are failing to deliver on the utility they promised during that time period, and most have since fallen over 90% or more from the all-time highs set back then. The negativity surrounding the alternative crypto assets sparked one professional career trader to compare altcoins to student debt as the two things victimizing millennials currently.

Peter Brandt Compares Altcoins to Crushing Student Debt

Every generation suffers some sort of challenge or atrocity, where an entire subset of people falls victim to specific emerging trends. During the early 2000s, acts of terrorism changed humanity. Later in the decade, recession hit and jobs were difficult to come by.

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

Related Reading | Bitcoin and Crypto Has Introduced Millennials to Investing in Markets, Despite Fears

Fast forward to now, student debt has climbed to all-time highs, and its causing widespread issues in the growth of the economy, and has impacted everything from job selection to choice in housing – more and more millennials are opting for apartments so they can pay down student debt, which is crushing the housing market.

Student debt, is without a doubt, a crisis that is spiraling out of control that will have long-term implications for the future of the entire world. Global debt as a whole is problematic, but for young students just starting out in life, student debt can be a crushing reality that can take years and even decades to escape.

That’s why it’s shocking to read that altcoins – an entire asset class of cryptocurrencies – have been compared to something so inherently bad as student debt. The comparison was made by professional trader, Peter Brandt, who regularly bashes altcoins while being extremely bullish on Bitcoin long-term.

Every generation has their own victim class. For millennial, the predators will be student loans and alt-coins.

— Peter Brandt (@PeterLBrandt) September 12, 2019

Continued Crypto Crash Fueling Negative Comparisons

Sentiment in the crypto market is at extreme lows, and not because Bitcoin is on shaky ground. The negative sentiment is mostly due to altcoins, such as Ethereum, Litecoin, and Ripple, struggling to find support and continuing to crash.

Altcoin investors who bought the top of the crypto hype bubble need to deal with the harsh reality that many of their investments may never again grow in value and are likely to never again set a new all-time high.

Related Reading | Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years

Unfortunately, these investors did indeed fall victim to hype and the promise altcoin companies were pitching to investors who bought in hoping to strike it rich. Instead of striking it rich, their money was nearly wiped out entirely.

With the fact that altcoins may never recover, the comparison to student debt victimizing millennials may not be so far off after all.

Tags: altcoinsbitcoincryptoPeter Brandtstudent debt
TweetShare21
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning 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

DYP

Leading Yield Farming Ecosystem DYP Now on Binance Smart Chain

7 hours ago
litecoin

Litecoin Prepares For Fresh Bull Momentum As Alt Season Cements 

11 hours ago
Ex WWE Wrestler Kane, Now Knox County Mayor, Looking Into Bitcoin and Litecoin

Ex WWE Wrestler Kane, Now Knox County Mayor, Looking Into Bitcoin and Litecoin

12 hours ago
Ethereum ETH ETHUSD22

Is This The Perfect Moment To Buy Ethereum? Top Analyst Weighs in

13 hours ago
Cardano ADA ADAUSDT

This Is How Cardano’s First DEX Will Try To Disrupt DeFi

15 hours ago
PancakeSwap CAKE CAKEUSDT

PancakeSwap Approves “Big Burn” For CAKE, Why It Could Be Massively Bullish

16 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

BitMinutes Announces Partnership with GoodDollar, Embracing Opportunity for Social Good

April 22, 2021

Hodlnaut Selects Fireblocks to Secure Assets With Next-Generation MPC Security

April 23, 2021

From Startup to Success Story — Morpheus.Network is Transforming Global Trade With Blockchain

April 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. 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.