Bitcoin Bottom Can Be Created By Large Investors | CryptoGazette
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People in the crypto space are wondering whether the Bitcoin bottom is in already. Now, an article coming from the Daily Hodl addresses the subject, and you can check it out below.
Large investors can create Bitcoin bottom
It’s been revealed that the anonymous host of InvestAnswers says a pool of large investors will help form a bottom price level for Bitcoin (BTC).
It seems that the InvestAnswers analyst tells his 405,000 YouTube subscribers that Bitcoin will bottom out at $30,000.
“Volume is light but as we’ve been saying, there are thousands and thousands and thousands of investors and fund managers and hedge funds, etc., that have been looking at this space for the longest time.”
He continued and said:
“And they know that this is a finite asset. They know it’ll be a flight to safety. They need somewhere to park their money that’s safe. Fiat debases. Gold doesn’t go anywhere. Stock market’s too shaky.”
As the online publication mentioned above notes, the analyst highlights that buyers with significant purchasing power are moving in to purchase Bitcoin at a discounted price.
“What we saw today was kind of interesting. Big volume came in, big buyers came in, big blocks. But you could tell as well from looking at the on-chain data and the wallet purchases, these are people buying $2-8 million [worth of Bitcoin] a pop.”
He also said that they were not retail investors, but they were grabbing what they could.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced just a little above $36k.
Bitcoin is expecting a bounce
It’s been just revealed that the important crypto strategist Michaël van de Poppe says that Bitcoin (BTC) is due for a heavier bounce. He said that even though we have a bearish sentiment surrounding the digital asset markets.
He just said that he believes the Bitcoin bottom is not yet in despite BTC’s bounce from the 90-day low of $32,990.
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