Peter Brandt said he had about 50 years of experience in futures markets and preferred areas where he already had an edge.
- Peter Brandt said altcoins could see major gains, but he remained focused on Bitcoin.
- Brandt also pointed out a potential bullish Bitcoin setup, calling it a “bear trap immediately followed by a springboard,” while stressing that charts show possibilities rather than certain outcomes.
- Van de Poppe said Ethereum could rally to $15,000-$20,000 this bull cycle, arguing that altcoins could see stronger upside than in the previous cycle.
Veteran trader Peter Brandt said the crypto market could be setting up for what he called the “mother of all alt-coin seasons.” Yet he said his own focus remained on Bitcoin (BTC), even though some altcoins could deliver much larger percentage gains if the setup played out
In a blog post, Brandt explained that his preference for Bitcoin came from his approach to trading after about 50 years in the futures market. According to Brandt, traders usually perform best in markets where they have already developed an edge.
He said he had “no desire to sculpt an edge” in individual altcoins. He instead focused on steadily increasing his net asset value (NAV) “with drawdowns not to exceed 5% or so, from peak to valley.” “For me, risk control is everything,” Brandt said.
Brandt Sees Possible 6X Jump In Altcoin Market
That focus on risk did not stop Brandt from identifying a potentially much larger move elsewhere in crypto. He said the total cryptocurrency market capitalization excluding Bitcoin closed Friday at about $1.12 trillion, near resistance around $1.17 trillion. He added that a longer-term chart formation could point to a much higher level if the market cleared the resistance.
“It is possible to establish a POSSIBLE target on the Total Cap minus BTC of 6.75 Trillion — that is a multiple of 6X from current levels,” Brandt wrote. He added that such a move could allow some individual altcoins to gain “10X, even 20X or more from their current prices.”
However, he added that “I am not into alts, so that field is yours to play with,” hinting that he does not plan to trade the potential altcoin rally himself.
Why Brandt Still Prefers Bitcoin
Brandt stressed that the chart of the total cryptocurrency market capitalization excluding Bitcoin showed only a possible outcome, not a certainty. He said charts could only point to potential market moves, but they could not predict what would happen with certainty.
Brandt therefore pointed to a potentially bullish setup in Bitcoin itself. In a separate post, he said Bitcoin had formed “a bear trap immediately followed by a springboard,” adding that the pattern “can be powerful.” A bear trap occurs when an asset breaks briefly below a support level, leading traders to expect further declines before rebounding higher. Brandt’s chart showed Bitcoin recovering after such a move.
Bitcoin’s price was trading at $80,446, down over 1% over the past 24 hours. On Stocktwits, retail sentiment around Bitcoin remained in ‘bearish’ territory, with chatter at ‘low’ levels over the past day.
Michaël van de Poppe Says ETH Could Reach $15,000-$20,000 This Cycle
Analyst Michaël van de Popp also backed the broader altcoin upside thesis but singled out Ethereum (ETH). “Honestly, I wouldn’t be surprised if we’re going to see $ETH rally to $15,000-20,000 this bull cycle,” he said.
Van de Poppe added that the previous bull cycle had been “extremely weak” for altcoins. He compared the current setup with 2017 and said the upside could be larger this time, adding a specific Ethereum target of $15,000-20,000 to Brandt’s broader call for stronger altcoin gains.
Ethereum’s price was trading at $2,575, down over 2% over the past 24 hours. On Stocktwits, retail sentiment around ETH rose to ‘neutral’ from ‘bearish’ territory, with chatter at ‘normal’ levels over the past day.
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