🍀The total value of all crypto-currencies fell by 11 percent from Saturday, falling from a high of almost $ 180 billion to below $ 160 billion. But this should not be the cause of the alarm, says one bullish analyst.
🍀 fact, Ronnie Moas, the founder of the research company Pointpoint Research (known for his prediction that the crypto currency will one day be valued in trillions), argues that the price gap is more the work of large traders who want to build up even larger positions in the crypto currency.
🦋"When people panic and start selling, they quietly enter the market and start buying again, buy 50,000, and then dump at 20,000, for example"🦋 he said, adding:
🦋"They are trying to push people out of the market so that they can get more bitcoins at lower prices."🦋
🍀Such remarks repeat yesterday's commentary, in which market analysts, most of whom are long-term optimists on technology prospects, put forward the concept that current market conditions may be consistent with the definition of a "bear trap" designed to open up buying opportunities at lower levels.
🍀Even if it is not so, Moas said that it's important to remember that just six weeks ago bitcoi cost $ 1800, and now it's $ 4,400, which means that over the past month and a half the price has increased by more than 140 percent.
🦋"This is a normal correction. You need to keep this 11 percent correction in perspective🦋 "he said.
🍀Overall, Moas sees a decline as a way of encouraging a new wave of buyers who sat on the sidelines to act. "Anyone who did not want to buy bitokoyn for 4800 dollars, now gets the opportunity to enter and buy at 4,500," he said.
🍀But Moas added one important warning. Market prices are moving so fast that market volatility and the location of exchanges carry risks to investors.
🍀Moas explained that yesterday he went to a large stock exchange to buy a large number of bitcoins. He placed an order at $ 4,633. Immediately after he sent the order, he went to another exchange to check the price and saw that it was below $ 4,500.
🤗Source: https://bitnovosti.com🤗