Bitcoin Whale Issues A Warning For Crypto Traders
Bitcoin is trading in the green right now, and at the moment of writing this article, the king coin is priced at $10,970.83.
One of the wealthiest Bitcoin investors is still not convinced that Bitcoin will be rallying too soon even if an important outlet revealed a really bullish prediction.
As the online publication the Daily Hodl recently noted, Joe007 disagrees with a Bloomberg Crypto update suggesting that Bitcoin has entered bull territory for the first time since the sell-off that took place back in March.
— Joe007 signals·alerts·funds are scams, all of them (@J0E007) September 16, 2020
You may be aware of the fact that the trader is known for placing large BTC bets on Bitfinex. He is short-term bearish on BTC and he believes that the coin is due for another drop in price.
“A lot of people are expecting a downleg, yes. But the question is – are they prepared to buy into a real dump, like a repeat of early March – or worse?”
Even if he expects to see another price drop soon, he still believes that the king coin has massive potential in the long run.
“One day BTC will go up strongly, decisively, on high/growing volume. It will cut through the most fearsome resistance lines like knife through butter, surprising all experts… and just continue to grow without retrace.”
Microstratgey owns $425 in Bitcoin
In other news, just the other day, we were revealing that MicroStrategy boosted the Bitcoin adoption lately and now the company continues to make great moves in this direction.
It’s been revealed that the largest publicly traded business intelligence company, just purchased an additional $175 million worth of Bitcoin – this means that their overall BTC purchase total has been brought to a whopping $425 million.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.