Bitcoin On the Brink Of $36k To $38k Is The Best We Will See For Sometime.

Bitcoin On the Brink Of $36k To $38k Is The Best We Will See For Sometime.

2021-05-19 | Big Bob

Bitcoin On the Brink Of $36k To $38k Is The Best We Will See For Sometime.

Galaxy Digital CEO Michael Novogratz within an official interview with CNBC today on Wednesday said that the bitcoin’ morning price dip “felt like we had capitulation.” His comments came as the price of Bitcoin [BTC, -13%] tumbled below $40k for the primary time since January.
"Capitulation" refers to the purpose within a market downturn when investors hand over on recapturing lost gains and sell instead of hold a given asset.
The cryptocurrency investor told CNBC that “the crypto revolution went on, but these are certain setbacks for the wallets and for the investor base.” the leading and the largest cryptocurrency by market capitalization is now down by over 30% in May alone, on target for its worst month since November 2018.
“The market will consolidate and find a bottom somewhere," Novogratz predicted. "I’m hoping it’s on the brink of here, $36k or even $38k.”
Novogratz outlined that there are several factors that have undermined bull run momentum recently, including the 17th  May federal tax deadline within the United States and comments from Tesla CEO Elon Musk, who expressed caution about bitcoin’s environmental impact and said the carmaker would stop accepting BTC payments for its cars [though Tesla didn't sell any of its holdings].
"Now we’ve got a liquidation event," Novogratz explained.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview



Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List