Neutral in the short-term, bullish in the long-term. With that view in mind, pro traders explain that a certain “player versus player” mindset is at play in the crypto market this month.
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Sellers continue to cap Bitcoin’s rallies into the intra-day highs as BTC trades in a “void between liquidity.”
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Bitcoin price cooled off at the start of December, but several bullish catalysts support investors’ belief that $100,000 BTC is around the corner.
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A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and otther cryptocurrencies tumbled sharply.
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Analysts say Bitcoin could sink as low as $50,000 but said strong macro and an entrenched “buy the dip” mentality could see price rebound quickly.
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Bitcoin’s sharp price drop from $44,000 has all the makings of a buy-the-dip scenario after leveraged longs get flushed out.
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FTX and Alameda’s Ponzi-like trading scheme has dealt a heavy blow to the entire crypto industry. Here are three developments to keep a close eye on.
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