In a series of tweets at 10. In February, the well-known analyst and co-founder of trading suite Decentrader said the cat is out of the bag and bitcoin is going mainstream.
Spoilsport for Bitcoin
Since Tesla acquired BTC for $1.5 billion, bitcoin’s presence has just exploded, but not everyone is convinced. In crypto circles, some still see the issuance and support of stablecoin Tether as a reason to be bearish.
As reported by Cointelegraph, rumours continue to circulate about the financial recovery of the Tera issuer, despite numerous rollbacks and an unprecedented increase in USDT supply.
The game has changed, summarizes filbfilb, noting that daily pressure alone has reached $1 billion.
market cable cover 1 daylight candle. Source: TradingView
So the price targets for the near future are not only at $50,000, but at $63,000, including some consolidation moves over time.
The consolidation target is around 52k, where I expect a slight correction, but the general measured movement should get us there. 63 or so, he added in a message to subscribers of his Telegraph trading channel.
Aggressive sellers have already exceeded demand, he noted.
Annotated1-day candlestick chart for BTC/USD. Source : filbfilb
As for the buyout, he added that there are implications that few have taken into account, making the bearish view on bitcoin moot. Consumers are already indirectly bullish on bitcoin, and the stock performance of companies that have already made allocations will add fuel to the fire.
I really don’t think people realize that the S&P500 of companies owning bitcoin means that people’s pensions are exposed to bitcoin by default. The percentage of people who have invested in bitcoin has already reached the masses, they just don’t know it yet, he wrote.
MSTR’s price premium alone, along with the current economic situation, means that shareholders will demand exposure to bitcoin. And yet many TCs are bearish. Never change.
This position is in direct opposition to cautious comments from JPMorgan analysts this week, who said few companies will follow Tesla and MicroStrategy because of bitcoin’s volatility.
However, in an interview with CNN, Michael Saylor, CEO of MicroStrategy, took on the volatility bears himself.
If you look at the long-term interests of shareholders, I think they would rather double their money every six months than lose 75 percent of their money over the next eight years with a guarantee, he told the station.
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