Can Bitcoin (BTC) Price Reach These Levels? Famous Commodity Investor Announced!

Famous commodity investor Peter Brandt, Bitcoin (BTC) It remains sticking to its long-term prediction that its price could potentially fall to zero.

Brandt Believes There Is A 50% Chance Of Such A Catastrophe Scenario In Bitcoin (BTC)

At the same time, Brandt is the biggest cryptocurrency He claimed that the odds of his unit rising to $250,000 were equal to the probability of it falling to zero. He stated that the cryptocurrency has an asymmetric reward-risk trading.

The famous trader predicted that zero could be the ultimate bottom of Bitcoin after BTC suffered a massive collapse caused by the pandemic in March 2020.

However, BTC started another bull run just months after that, reaching a peak of $69,000.

Can Bitcoin Drop To Zero?

While the largest cryptocurrency has been around for a long time, there are no shortage of dissidents who believe that BTC will eventually fade into oblivion.

legendary investor Warren BuffettBerkshire Hathaway’s right-hand man, Vice President Charlie Mungerrecently claimed that BTC will “probably” go to zero and said that the cryptocurrency is “stupid” and “evil”.

While such a scenario is highly unlikely, BTC could technically drop to zero. In 2018, Yale University economists estimated that the probability of BTC falling to zero in a single day due to some black swan event was 0.4%.

Brandt recently suggested that the $8,000 level could be the bottom of an ongoing price correction.

At the time of this writing, the price of BTC was trading at $19,200.

*Not investment advice.