Veteran Trader Advises ‘Gen Zs’ To Set Aside Savings On Bitcoin And Hold

Christian Encila

Last Updated: June 11, 2024 1:52 pm

2 mins read

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It’s time for the new and younger generation to invest in Bitcoin. At least, this is what veteran trader and popular commentator Peter Brandt recommends.

Brandt suggests members of the “Gen Z” should get a degree in an area where they may quickly find a well-paying job while avoiding student debt, if possible.

He referenced the largest cryptocurrency by market capitalization, Bitcoin, in his discussion on investment.

Brandt believes that they should invest majority of their savings in the world’s most sought-after crypto asset and strong company equities.

Brandt stated that even if Bitcoin is still “generally” untrusted and unproven by a huge number of people as well as local governments as of present, it can implicate various trends which can lengthen invested value on a specific cryptocurrency.

Crypto As A Smart Investment

Brandt, the founder and chief executive officer of Factor LLC, has been trading commodities for over 40 years and has been a well-known analyst and investor since then.

His claim to fame was correctly forecasting Bitcoin’s sharp price drop in 2018. He has taken to Twitter to provide financial advice to Millennials and Generation Z.

He singled out Bitcoin as a good cryptocurrency investment in terms of current market viability.

Total crypto market cap at $1.711 trillion on the daily chart | Source: TradingView.com

Brandt’s Predictions On Bitcoin

According to Brandt, Bitcoin is almost halfway through its current bull market from a price low.

He pointed out that the long-term Bitcoin bull market is still intact. His technical analysis indicates that it may continue to rise, albeit with some corrections along the way.

Based on its long-term trend channel, he anticipates bitcoin will reach $180,000 to $200,000 by the third or fourth quarter of this year.

According to a recent Deutsche Bank poll, over a fifth of Bitcoin investors believe the cryptocurrency’s price would top $110,000 in five years.

Store Of Wealth

Brandt eagerly stated that rallies and corrections could be possible for the famed cryptocurrency because of his familiarity with its market trends and that Bitcoin is taking the role as a store of wealth and medium of exchange.

“It’s a binary bet. It will be the best of what people want it to become, or it will become nothing,” he said.

Still, as long as investors and people alike continue to set high standards and transactions on the cryptocurrency, it will act as it’s supposed to be — a medium for financial compliance.

Bitcoin Today

Meanwhile, Bitcoin (BTC) is currently trading at around $39,130.05, representing a 1.54% increase over the last 24 hours.

According to Coindex Statistics, its highs have reached $40,222.40, while its lows have remained over the $37,000 barrier at $38,335.60.

Bullish patterns are predicted to emerge as March progresses, yet the current volatility rate may diminish bullish opportunities for Bitcoin due to global events and market shifts.

Featured image from CNBC, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.