Hodlonaut Addresses Bitcoin Newcomers And BTC Maximalism

Bitcoin raced past $63k a while ago, and then, the price of the most important digital asset out there collapsed as Elon Musk tweeted about it.

People who sold were definitely weak hands and the crypto market has shaken them all during the latest BTC price drops.

Hodlonaut addressed the Bitcoin newcomers and the attitude that they have. Check out the post that he shared on his Twitter account.

He continued and said:

We suggest that you check out the complete thread that Hodlonatu posted on his Twitter account.

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $31,065.41.

Bitcoin entered recovery mode

In the past days, Bitcoin suffered another sellout and the weak hand seem to be shaken off the market for good now.

Coindesk reveals that as June comes to a close, roughly 69,000 BTC is set to expire at a notional value of $2.37 billion, according to data source Genesis Volatility.

“Max pain levels are good to keep an eye on going into an options expiration like this,” wrote Greg Magadini, CEO of Genesis Volatility, in an email to CoinDesk.

The max pain level for BTC implies a rally up to about $40,000, which is also the strike price with the most open interest, according to the same online publication.

Check out the complete article in order to learn more details.

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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.