BTC Gaining Ground After Halving Event
- Bitcoin has rebounded strongly after its much anticipated halving event. Notable investors such as Galaxy Digital Founder & Billionaire Michael Novogratz saying now is the perfect time for Bitcoin in a CNN interview. Also noteworthy billionaire Paul Tudor announcing that roughly 2 percent of his assets are in Bitcoin.
- Technically BTC is continuing its uptrend and has managed to hold its prices above 9k, we see some resistance coming in around 10.5k but currently remain long in our BTC positions.
- Michael's quote below is very timely - again BTC is a volatile asset and this isn't an asset to throw all your eggs into this basket. Always use small positions and be careful with the leverage associated with futures and cfds.
Michael Novogratz
“Bitcoin is a story and now we have this amazing tail wind because of the macro situation globally. We’ve got this quantitative easing on top of quantitative easing all over the world, not just here in the U.S. today, the FED is going to start buying ETFs…and so you’ve got this exclamation point on the story of…what a monetary system with scarcity looks like vis-a-vis or in contrast to what the FED is doing. And so it really is just this perfect timing for what looks like a macro story that people are thinking i should have 1 or 2 percent in this Bitcoin because the probability or possibility that things go really poorly with classic monetary policy is rising.”
- Technically BTC is continuing its uptrend and has managed to hold its prices above 9k, we see some resistance coming in around 10.5k but currently remain long in our BTC positions.
- Michael's quote below is very timely - again BTC is a volatile asset and this isn't an asset to throw all your eggs into this basket. Always use small positions and be careful with the leverage associated with futures and cfds.
Michael Novogratz
“Bitcoin is a story and now we have this amazing tail wind because of the macro situation globally. We’ve got this quantitative easing on top of quantitative easing all over the world, not just here in the U.S. today, the FED is going to start buying ETFs…and so you’ve got this exclamation point on the story of…what a monetary system with scarcity looks like vis-a-vis or in contrast to what the FED is doing. And so it really is just this perfect timing for what looks like a macro story that people are thinking i should have 1 or 2 percent in this Bitcoin because the probability or possibility that things go really poorly with classic monetary policy is rising.”
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