Analyst of 50 Years Called This Altcoin “Junk”, Explains Why

Economist and writer Peter Brandt, who stated that he has been trading on the stock exchange as a trader since 1975, made words that would anger Ethereum supporters in his latest statement.

Brandt said that Ethereum is a “garbage coin”, that he is tired of saying this over and over again, and that the devotion of ETH supporters to this coin does not change their minds.

According to the analyst, Ethereum is useless as a store of value and is trying to become a Bitcoin imitator.

In addition, Brandt claimed that ETH is functionally garbage. The analyst cited the fact that it is difficult to deal with layer-2 solutions and the transaction fees on the main network have reached incredible levels as the reason why he finds ETH functionally worthless.

Brandt has been expressing his views on cryptocurrencies and economic issues for a long time. Last August, while discussing the upcoming Bitcoin halving, Brandt called the reward reduction “insignificant.”

At the time of writing this article, the Ethereum price has decreased by 6.8% in the last week and is traded at $ 3,323. However, the world’s largest altcoin has increased by 77% in the last year.

*This is not investment advice.

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