BTC Soaring to $250K-$600K Is Not Far-Fetched, Says Analyst
- Kyledoops from Crypto Banter revealed that legendary trader Michael J. Burry is betting against the financial markets.
- MDX Crypto was also present in the video and shared that he is bullish on BTC for the long term.
- The analyst predicted that altcoins may present better trade opportunities than BTC for the foreseeable future.
Kyledoops from Crypto Banter highlighted the fact that the legendary trader Michael J. Burry, who was portrayed in the movie the Big Short, recently opened a substantial short position against the financial market. Despite this bet against the traditional financial market, another analyst that was in the video, MDX Crypto, is bullish on Bitcoin (BTC) for the long term.
According to MDX Crypto, BTC treasuries have risen rapidly, which may be a bullish sign for the market leader’s long-term potential. Specifically, he revealed that institutions went from holding 7% of BTC’s supply to holding 9.2% of the supply.
Although this is a positive metric to take note of, the analyst predicted that there may not be a significant rally in BTC’s price for the next few weeks. This thesis will stand until BTC’s price closes a weekly candle ab…
The post BTC Soaring to $250K-$600K Is Not Far-Fetched, Says Analyst appeared first on Coin Edition.
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BTC Soaring to $250K-$600K Is Not Far-Fetched, Says Analyst
- Kyledoops from Crypto Banter revealed that legendary trader Michael J. Burry is betting against the financial markets.
- MDX Crypto was also present in the video and shared that he is bullish on BTC for the long term.
- The analyst predicted that altcoins may present better trade opportunities than BTC for the foreseeable future.
Kyledoops from Crypto Banter highlighted the fact that the legendary trader Michael J. Burry, who was portrayed in the movie the Big Short, recently opened a substantial short position against the financial market. Despite this bet against the traditional financial market, another analyst that was in the video, MDX Crypto, is bullish on Bitcoin (BTC) for the long term.
According to MDX Crypto, BTC treasuries have risen rapidly, which may be a bullish sign for the market leader’s long-term potential. Specifically, he revealed that institutions went from holding 7% of BTC’s supply to holding 9.2% of the supply.
Although this is a positive metric to take note of, the analyst predicted that there may not be a significant rally in BTC’s price for the next few weeks. This thesis will stand until BTC’s price closes a weekly candle ab…
The post BTC Soaring to $250K-$600K Is Not Far-Fetched, Says Analyst appeared first on Coin Edition.
Read More