Peter Brandt, who is considered to be a prodigy and guru of the trading community as well as the CEO of the proprietary trading firm Factor LLC, has recently opened up about the current crypto-economic condition of the two major crypto giants and the difficult situation that they are currently facing.
As per Peter, Bitcoin and Ethereum are the real playmakers. He shared his thoughts while being interviewed by a crypto publisher on September 9, 2020, and was asked to share his prediction around the economic presence of both the giants in the upcoming months. Peter stated that both BTC and ETH hold a significant amount of value in the crypto markets both as the economic present and the following they have gained over the course of time.
He also went on to add that the actions taken by both the crypto-currency giants are subjected to the health and state of the market, and are currently responsible for the ripples that are being caused in the crypto-currency platform in the current days.
While explaining the similarities in the decision making and tactics of both the giants, Peter mentioned how both BTC and ETH showed off their topping asset values right before both of them experienced a significant decline in their prices. Peter added that both BTC and ETH were conquering the crypto price charts where BTC was hovering near $12,500 per coin in August 2020 and ETH was hovering near $490 per coin on the 1st of September.
Since then, the prices for both BTC and ETH took a significant dip where BTC came near $9,800 per coin before bouncing back to around $10,200 per coin and ETH’s price fell near to $310 before bouncing back to the price of $364 per coin.
In the end, Peter Brandt has speculated this would be the only fall that both the giants have suffered for the running year, and from this onwards, both BTC and ETH would see an upwards trend. He further added that the price of Bitcoin will hover between $8,900 and $12,000.
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