Long-time trader Peter Brandt gives his thoughts on the future of BTC

• A long time trader and the chief executive officer of the preparatory trading company Factor LLC, Peter Brandt has recently given his opinions on the current climate of the crypto market. 

• He described the price action as stuck between two difficult Giants. 

A long time trader and the chief executive officer of the preparatory trading company Factor LLC, Peter Brandt has recently given his opinions on the current climate of the crypto market. 

He described the price action as stuck between two difficult Giants. Speaking to Cointelegraph in an interview earlier this week on the 9th of September, Brandt was asked on his opinion on bitcoin for the days and months ahead to which he said the following:

"Bitcoin and Ethereum — those really, for me, is where the game is played," 

The two biggest cryptocurrencies in the industry have both seen declining prices in the market over the past few days. Recently, bitcoin hit a wall at $12,500 in mid-August and hasn’t been able to regain that momentum just yet.

"Both markets have backed into very heavy support on the weekly chart. What I see are markets that are kind of in between a rock and a hard place… it’s not surprising the market now is just kind of drifting without direction."

The trade a further went on to say:

"I'm really not expecting anything for the rest of the year. I think the market is going to develop a big choppy range quite frankly. I think there's a good chance that, when we rally, the bulls are going to get excited and end up disappointed, and when we break like we have in the last couple of weeks, the bears are going to end up getting excited and end up disappointed."

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!