Bitcoin (BTC) could suffer from Biden plans, investment legend Peter Brandt expects

US President Joe Biden’s plan to increase the capital gains tax caused market panic a few days ago. The bitcoin (BTC) and altcoin prices also went down with a significant correction. Investment legend Peter Brandt expects that Biden’s plans for the shorter term could turn out to be bearish.

Biden wants to significantly increase the capital gains tax. In some cases this could almost double for wealthy individuals to 39.6% and in some cases as much as 43.4%. At the moment this is still 20%; the government of Biden is unfair.

Peter Brandt, a veteran in the investment world and well-known Bitcoin supporter, spoke out about the news yesterday. In a tweet he wrote the following:

“Looking ahead. Biden’s presidency could become a major negative factor for Bitcoin. A large BTC offering will hit the market to get ahead of the capital gains tax that will exceed 55% in some US states. ”

Brandt thinks that should the tax increase come, which is not yet certain, many investors may still quickly sell their bitcoin to get ahead of the increase. Due to the increasing supply on the market, the BTC price could fall. Many of his followers thought through this tweet that Brandt now has bearish long-term expectations. However, that is not the case, Brandt explains:

“Wow!!! This Tweet was NOT intended to represent a long-term bearish view of Bitcoin (BTC remains one of my biggest investments), but as a negative view of megadollar government programs. I am a Bitcoin bull Libertarian. ”

In addition to bitcoin, Brandt often talks about altcoins. He recently recognized a very rare pattern on the ripple (XRP) chart. Shortly after, XRP did indeed take to the air!


  1. Heya i’m for the primary time here. I came across this board and I to find It
    really useful & it helped me out much. I am hoping to offer something again and aid others
    such as you aided me.

  2. I do not know if it’s just me or if perhaps everyone else experiencing problems with
    your website. It seems like some of the text on your posts are running off the screen.
    Can someone else please provide feedback and let me know if this is happening to them too?
    This could be a issue with my internet browser
    because I’ve had this happen previously. Many thanks

  3. Hello I am so happy I found your webpage,
    I really found you by accident, while I was looking on Askjeeve
    for something else, Nonetheless I am here now and would
    just like to say thanks a lot for a fantastic post and
    a all round interesting blog (I also love the theme/design), I don’t have time to look
    over it all at the minute but I have book-marked it
    and also added in your RSS feeds, so when I have time I will
    be back to read a lot more, Please do keep up the superb job.

  4. Howdy just wanted to give you a brief heads up and let you
    know a few of the images aren’t loading properly. I’m not sure why but I think its a linking issue.
    I’ve tried it in two different web browsers and
    both show the same results.

  5. Admiring the commitment you put into your website
    and in depth information you provide. It’s good to come
    across a blog every once in a while that isn’t
    the same old rehashed information. Excellent read!

    I’ve bookmarked your site and I’m including your RSS feeds to
    my Google account. quest bars quest

Leave a Reply

Your email address will not be published.