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Veteran Trader Predicts 95% of 11,000 Crypto Coins Will Become 'Near Worthless'

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Alexey Bondarev9 hours ago

Veteran trader Peter Brandt issued stark warnings about the cryptocurrency market's future while unveiling ambitious price targets for both a payments-focused digital asset and precious metals. The market analyst, who commands a following of 803,900 on social media platform X, predicted that 95% of the 11,000 actively traded cryptocurrencies will eventually become "near worthless."


What to Know:

  • Peter Brandt predicts 95% of 11,000 actively traded crypto coins will become near worthless, with 3.7 million already dead
  • The veteran trader targets $1.51 for Stellar (XLM), calling it a potential "rock star" among payment cryptocurrencies
  • Brandt forecasts silver could reach $95 per ounce, nearly double its 1980 all-time high of around $50

Crypto Market Faces Mass Extinction Warning

Brandt's assessment of the cryptocurrency landscape paints a grim picture for digital asset investors. According to data he cited from CoinGecko, 3.7 million cryptocurrency projects have already ceased operations. The trader emphasized that only approximately 50% of the most actively traded cryptocurrencies currently trade above 10% of their peak values.

"Every crypto nerd has his/her/its own pet rock or Beanie Baby," Brandt wrote to his followers. "I believe 95%+ of the 11,000 actively traded coins will become near worthless – your pet rock included."

Despite his bearish outlook on the broader cryptocurrency market, Brandt identified one potential survivor. He singled out Stellar (XLM), positioning it as an XRP rival that could outperform the market. The trader described XLM as a coin that "could become a rock star" in the payments-focused cryptocurrency sector.

Technical Analysis Points to Stellar Breakout

Brandt's technical analysis suggests XLM is positioned for a significant price movement. His monthly chart indicates the cryptocurrency is preparing to break out from what he describes as a massive triangle pattern. Based on this technical formation, the trader has established a price target of $1.51 for XLM.

At the time of his analysis, XLM was trading at $0.452, representing a modest daily decline. The target price would represent a more than 200% increase from current levels. Brandt's chart analysis appears to be the primary driver behind his bullish stance on the cryptocurrency.

The trader's focus on XLM comes amid broader skepticism about the cryptocurrency sector's long-term viability. His selection of a payments-focused token aligns with growing institutional interest in cryptocurrencies with clear utility cases.

Silver Price Target Reflects Commodity Optimism

Beyond cryptocurrencies, Brandt outlined an ambitious forecast for silver prices. The veteran trader believes the precious metal could reach $95 per ounce if it successfully breaks through current resistance levels. This target would represent nearly double silver's all-time high of approximately $50 per ounce, which was established in 1980.

"This is my long-term silver chart," Brandt explained. "While not technically a cup and handle, the chart nevertheless could support an advance to $95 per ounce if overhead resistance is hurdled." He noted that his analysis applies to both paper silver contracts and physical silver holdings.

Brandt disclosed his long position in silver while defending his track record in the commodity. He reminded followers of his accurate prediction in 2011 when he warned that silver prices were "topping out at $50 an ounce." The trader noted that silver's performance over the past 14 years has been disappointing relative to other assets.

Market Context and Historical Performance

The trader's commentary reflects broader concerns about asset valuations and market dynamics. Brandt argued that silver needs to reach $100 per ounce merely to match the performance of other investment categories over recent years.

"Silver needs to go to $100 an ounce just to catch up with the rest of the world," he stated.

At the time of his analysis, silver was valued at $38.42 per ounce, meaning his $95 target would represent a roughly 147% increase from current levels.

His dual focus on both cryptocurrency and precious metals highlights the ongoing debate about alternative investment vehicles. While dismissing most digital assets, Brandt maintains exposure to both a select cryptocurrency and traditional commodity investments.

The trader's warnings about cryptocurrency market saturation align with growing regulatory scrutiny and market consolidation trends. His emphasis on utility-focused tokens like XLM reflects evolving investor preferences for cryptocurrencies with clear real-world applications.

Closing Thoughts

Brandt's analysis presents a mixed outlook for alternative investments, combining severe warnings about cryptocurrency market oversaturation with optimistic forecasts for select assets. His prediction that 95% of active cryptocurrencies will fail contrasts sharply with his bullish targets for both Stellar and silver, suggesting a focus on assets with established utility or historical value stores.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.
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