{"id":15988,"date":"2021-07-21T07:13:05","date_gmt":"2021-07-21T07:13:05","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=15988"},"modified":"2021-07-21T07:14:15","modified_gmt":"2021-07-21T07:14:15","slug":"news-commentary-1415-bitcoin-dont-rush-to-buy-yet","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=15988","title":{"rendered":"News Commentary #1,415 \u2013 Bitcoin | Don\u2019t Rush To Buy Yet..?"},"content":{"rendered":"

We continue to publish some of the most (in our opinion) useful and noteworthy articles related to price fluctuations \/ volatility and small analytical forecasts for the crypto market, since its influence today is excessively large<\/strong> on the whole HYIP market.<\/span> Some programs do not cope with such changes and price dumps, which leads to the scam of even very well-prepared programs.<\/span> Let’s read News below ..<\/span><\/span><\/p>\n

\n

Bitcoin (BTC) Secures Position Above $30,000, Don\u2019t Rush To Buy Yet<\/h1>\n

<\/p>\n

After taking a nosedive under $30,000 on Tuesday, July 20, Bitcoin (BTC) is back once again securing its crucial support. At press time, the BTC price is up 3.59% at $30,694, and a market cap of $575 billion.<\/p>\n

The world\u2019s largest cryptocurrency has been showing highly volatile performance over the last few weeks, and thus it will be prudent to not make any fresh entry at this point. Some traders expect more pain ahead for Bitcoin as it has been constantly breaking key support levels on the downside. Speaking at CNBC\u2019s Trading Nation show, Delano Saporu, founder of New Street Advisors said:<\/p>\n

\n

\u201cI think you probably have more downside, maybe to around the $22,000 range [to] the $17,000 range<\/strong> for bitcoin going back to Dec. 20 of last year. However, \u201cfrom there, I do think there\u2019ll be upside,\u201d he said.<\/p>\n<\/blockquote>\n

With the upside, Saporu probably means for the short term and that\u2019s exactly what we are seeing today. Although bearish for the short-term, Soparu predicts a bright future for long-term Bitcoin investors.<\/p>\n

\u201cA lot of people that were speculating when the price was really at its highs and they were jumping in at that time were really looking for a quick profit, they were wrong at that time,\u201d he added.<\/p>\n

The Bitcoin Sell-Off Could Be Temporary<\/h3>\n

In the same\u00a0interview\u00a0at CNBC\u2019s trading nation, Fairlead Strategies founder Katie Stockton shared a bit different opinion. Stockton believes that yesterday\u2019s dip under $30,000 marks the bottom of the consolidation phase. She adds the Bitcoin is now \u2018ripe for a shakeout\u2019.<\/p>\n

A shakeout is symbolic of a false breakout under the crucial support levels. However, the price quickly jumps back once the market \u201cshakes out those weak holders of bitcoin\u201d.<\/p>\n

As per Stockton, if Bitcoin bounces back this week, it would mean the sell-off was temporary. Furthermore, she pointed to a secondary support level of $27,000<\/strong> above which the long-term trend remains intact. On the north side, a strong breakout above the 50-day moving average i.e. $34,500<\/strong> would mean the consolidation phase has bottomed out.<\/p>\n

As Bitcoin continues its downtrend, institutional players have been buying at every dip. On Monday, Cathie Wood\u2019s Ark Invest\u00a0purchased\u00a0300K shares of the Grayscale Bitcoin Trust (GBTC). In the last quarter, Rothschild\u00a0added\u00a0100K shares of GBTC to its kitty.<\/p>\n<\/blockquote>\n

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We continue to publish some of the most (in our opinion) useful and noteworthy articles related to price fluctuations \/ volatility and small analytical forecasts for the crypto market, since its influence today is excessively … News Commentary #1,415 \u2013 Bitcoin | Don\u2019t Rush To Buy Yet..?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[139,3545,1874,3544,3546,3547,5485,4282,3611,5486,1303],"class_list":["post-15988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-bitcoin","tag-bitcoin-info","tag-bitcoin-insights","tag-bitcoin-news","tag-bitcoin-update","tag-bitcoin-updates","tag-bitcoincrypto","tag-crypto-market","tag-crypto-news","tag-crypto-worldwide","tag-cryptolux-scam-or-paying","exalt-entry"],"yoast_head":"\nNews Commentary #1,415 \u2013 Bitcoin | Don\u2019t Rush To Buy Yet..? 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