Pro traders don’t expect Bitcoin to break and hold $20,000 anytime soon
Bears have controlled BTC price by forcing 111 daily closes below $25,000 and derivatives data shows a reversal of this trend is highly unlikely. One hundred and eleven days have passed since Bitcoin (BTC) posted a close above $25,000 and this led some investors to feel less sure that the asset had found a confirmed bottom. At the moment, global financial markets remain uneasy due to the increased tension in Ukraine after this week’s Nord Stream gas pipeline incident. The Bank of England's emergency intervention in government bond markets on Sept. 28 also shed some light on how extremely....
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Billionaire Mike Novogratz has warned investors to not expect much of a recovery in bitcoin anytime soon. Novogratz who serves as the CEO of the digital asset merchant bank Galaxy Digital has always been a big proponent of Bitcoin and its advantages. However, he has recently shared his thoughts on the current market climate and what investors should be expecting in the coming days. Confidence Will Take A While The recent market crash has seriously impacted investor faith in the cryptocurrency market. As such, sell-offs across digital assets such as bitcoin have been rampant. Sentiment has....
Here's a look at what we are focusing on in the bitcoin price this evening. Things just keep getting better and better in our bitcoin price trading. We noted this morning that we would love to see a continuation of the volatility that carried us through the 700 resistance level over the weekend, and that if we did, we would likely be able to pull a decent profit out of the market with our breakout strategy. Our upside trade was pretty aggressive (because we basically don’t expect price to break through support around the 700 flat mark anytime soon) and we were vindicated on today’s action.....
“We’re exploring other ways, potentially, to redeem your membership rewards points, but I don’t think you’re going to see an American Express card linked to cryptocurrency anytime soon," said Stephen Squeri. American Express credit card holders may one day be able to redeem points for cryptocurrencies, but the company has no immediate plans to issue a crypto-linked credit card.In a Tuesday interview with Yahoo! Finance, Amex chief executive officer Stephen Squeri said credit card holders were “probably not gonna see a Amex crypto-linked card anytime soon” but the company was already....
Traders who get into Bitcoin for short-term gains stand to be disappointed by the volatility associated with Bitcoin, according to MicroStrategy’s CEO. MicroStrategy CEO and Bitcoin evangelist Michael Saylor recently featured in an interview to share his insights into the global macro environment alongside Bitcoin (BTC) and crypto in general. Speaking about the risks related to volatility, Saylor said, “The people that invest in Bitcoin as traders — and they don’t, they don’t have a technology view or the macro view — they’re always going to be disappointed because of volatility.”Matching....
The writer and market observer behind Tyler Durden of prominent financial news website Zero Hedge, doesn’t expect the SEC to approve a bitcoin hedge fund anytime soon, in light of how long it has taken the agency to act on the Winklevoss ETF and other factors, including China’s dominance of bitcoin trading. Durden thinks the delay in getting a bitcoin ETF approved will keep cryptocurrency volatile, which he thinks is good since it’s an asset traders are looking for given the lack of volatility in other assets. More than three years ago, Winklevoss Capital Management LLC, launched the....