{"id":602629,"date":"2023-01-29T19:49:29","date_gmt":"2023-01-30T01:49:29","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/29\/prominent-analyst-peter-brandt-debunks-magic-line-crypto-market-theory\/"},"modified":"2023-01-29T19:49:29","modified_gmt":"2023-01-30T01:49:29","slug":"prominent-analyst-peter-brandt-debunks-magic-line-crypto-market-theory","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/29\/prominent-analyst-peter-brandt-debunks-magic-line-crypto-market-theory\/","title":{"rendered":"Prominent Analyst Peter Brandt Debunks \u2018Magic Line\u2019 Crypto Market Theory"},"content":{"rendered":"
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Peter L. Brandt is the founder and CEO of Factor LLC, a global trading company where he trades proprietary capital, foreign exchange, futures, fixed income, and equities markets. He has authored books and is always one of the active members who make predictions in the crypto industry.\u00a0<\/p>\n

He spoke out about those who have recently placed their hopes and formed their market views based on the S&P500 index\u2019s trend line.\u00a0<\/p>\n

Brandt Explains About Magic Line\u00a0<\/strong><\/h2>\n

According to Brandt, the \u201cmagic line\u201d investors have drawn on numerous charts has been making the rounds in the cryptocurrency and trading communities for the past few weeks. If this line were to break, it would indicate that the entire market\u2014clearly including cryptocurrencies, given that their correlation with the majority of stocks has been at an extremely high level since 2021\u2014would be in the process of turning around.<\/p>\n

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Brandt, on the other hand, does not appear to share the same enthusiasm as other traders and believes that the breakthrough of that line will result in nothing, in contrast to other traders who are eager to witness the firm breakout and acceleration of the rally.<\/p>\n

The well-known analyst does not elaborate on why, in his opinion, the trendline that virtually every trader and investor emphasizes in their analysis is irrelevant or does not give the market momentum.<\/p>\n

Some people have expressed agreement and remarked that while he is not recommending that this fractal plays out, it does demonstrate the fact that occasionally the market can finish a decline and reach a greater high without following the trend that has been in place since the 1970s.<\/p>\n

He received praise from one user for stating it. Some individuals have inquired about it and urged him to clarify whether it is due to fundamentals or macro.\u00a0\u00a0<\/p>\n

Currently, the global market cap of crypto is at about $1.05T. The market seems to have started recovering since the FTX fiasco.<\/p>\n<\/div>\n

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Qadir AK<\/a><\/h3>\n

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\n Qadir AK<\/p>\n","protected":false},"excerpt":{"rendered":"

Peter L. Brandt is the founder and CEO of Factor LLC, a global trading company where he trades proprietary capital, foreign exchange, futures, fixed income, and equities markets. He has authored books and is always one of the active members who make predictions in the crypto industry.\u00a0He spoke out about those who have recently placed<\/p>\n","protected":false},"author":1,"featured_media":602630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23380,31344],"tags":[],"class_list":{"0":"post-602629","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analyst","8":"category-prominent"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=602629"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/602630"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=602629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=602629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=602629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}