Michael Saylor reminded Blunt that the laser eye signifies “a long-term commitment to Bitcoin based on ethical, technological, and economic advantages over alternative assets.” Technical John Bollinger, analyst and creator of Bollinger band’s technical indicators, suggested that Blunt’s tweet was “a little mean.”
All BTC Purchased in 2021 is Currently ‘a Losing Trade
Veteran trader Peter Brandt used the laser eye crypto meme to criticize Bitcoiners. He reminded them that buying Bitcoin in 2021 is a “losing proposition” at the moment. Brandt added that he could not have predicted that the cryptocurrency would drop below $20,000 in October 2022.
In response to the veteran trader’s tweet, MicroStrategy’s recently stepped-down CEO Michael Saylor explained why he and other Bitcoiners are still defending the laser eye movement.
According to Michael Saylor;
“Laser eyes signifies a long-term commitment to bitcoin based on its ethical, technical, and economic superiority to alternate assets. All major financial asset classes have been losing trades over the past year. That is why we don’t trade, we hodl”.
Bitcoin Maxis Defend Bitcoin
Another Twitter user named Steven Rivera echoed Saylor’s remarks. He argued that the primary goal of those with laser eye movements was to “increase the number of stacked sats and gain freedom.” Users seemed to attack Brandt’s use of technical indicators in trying to understand the future price action of the asset.
Alex Gladstein, a human rights and laser eye advocate, reminded Blunt that “the idea was to dress her up for the $100,000 trip.” He predicted that the laser eyeballs would not stop until it was worth $100,000.
When a Twitter user named Bazooka responded to Blunt’s tweet by claiming that he bought BTC when the cryptocurrency was worth between $17,000 and $18,000, the veteran trader said, “In 2021, BTC never traded below $24,000.”
When John Bollinger suggested that Blunt’s tweets were “a little mean,” the veteran trader agreed. His goal was to help supporters of the laser eye movement. He argued that it was to make people understand the dangers of dogmatics. “Remember Thoughts” Dangers of Dogmatic Thinking.
Laser Eyes and the Bear Market
During the 2021 cryptocurrency bull market, many Bitcoin maxis started adding red laser eyes to their social media profile pictures. Using the red laser eye means moving the holder up.
As the movement gained momentum, Brandt became one of the first prominent traders to question the campaign, which is likened to a cult. On March 31, 2021, when Bitcoin was trading above $58,000, Blunt said:
A few months after Blunt said this, Bitcoin hit an all-time high of $68,789.63. Since then, the best cryptocurrencies have been trending downwards, mostly trading between $23,000 and $18,000 since September 1, 2022.
BTCUSD is the ticker symbol for the Bitcoin-US dollar exchange rate. BTCUSD is a cryptocurrency CFD as Bitcoin is the base currency.
Cryptocurrencies are known as the most traded fiat currency in the world. BTCUSD is the most popular crypto-fiat pair and is the de facto gold standard in the cryptocurrency market. It offers price direction advice for virtually the entire cryptocurrency market.