Veteran trader Peter Brandt is making some bold predictions about the crypto market and the price of silver. He believes that while most cryptocurrencies are headed for zero, one stands out as a potential star performer.
Stellar’s Potential Breakout
Brandt, who boasts a large following on X (formerly Twitter), highlighted Stellar Lumens (XLM) as a cryptocurrency with significant upside potential. He stated that he believes over 95% of the 11,000 actively traded cryptocurrencies will become nearly worthless. He sees XLM as an exception, potentially reaching a price of $1.51. This represents a significant increase from its current price. His analysis is based on a chart pattern suggesting an imminent breakout.
Silver’s Sky-High Target
Brandt isn’t limiting his predictions to the crypto world. He also forecasted a massive price increase for silver, suggesting it could hit $95 per ounce. This would nearly double its all-time high from 1980, provided it breaks through current resistance levels. He argues that silver needs to reach $100 an ounce just to keep up with the growth of other assets. He’s currently holding a long position in silver.
Brandt’s Track Record
Brandt acknowledges his previous successful prediction of silver peaking at $50 an ounce back in 2011. He believes that despite its performance over the last 14 years, silver still has significant room to grow.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in any asset.
/p>