Bitcoin is once again retesting the important $10k level.
At the moment of writing this article, BTC is trading in the green and the most important coin out there is priced at $9,786.30.
Patience is key following the halving – not the time to day-trade
Hedge fund manager Matt D’Souza said that patience is the key for BTC holders who are looking to capitalize on the halving.
The co-founder and CEO of the crypto mining operation Blockware Solutions, said that it’s not the time to day-trade now.
2) Halvings are typically Buy the News, Sell the Rumor Events.
In 2020, I expect a shallower sell off than 2016 (we already corrected 20%) & only a 1.5-3 week duration max.
Now is the time to be patient & Hold – NOT day trade. The big money is in the sitting & capturing the Cycle
— Matt D’Souza, CPA (@mjdsouza2) May 13, 2020
He also noted that the Feds are recklessly printing money, and this will lead to negative interest rates.
He made sure to point out the fact that 16% of BTC miners have shut off, giving BTC a better environment to rally.
He explained that BTC is now retesting $10k.
1) The state of #Bitcoin: May 10th BTC corrected ~20% & caught support at its 200 DMA. $10,000 is being tested again. Each retest eats away at Overhead Supply. What we are witnessing is BTC Technicals trying to prove itself as demand over powers sellers attempting to keep it down pic.twitter.com/7dGaV1N4qJ
— Matt D’Souza, CPA (@mjdsouza2) May 18, 2020
Make sure to check out his complete thread because it’s filled with valuable info.
Other than this, the optimistic price-related predictions about BTC are flooding the crypto space these days after the halving.
Elon Musk calls Bitcoin solid
Another thing worth mentioning is that Elon Musk once again addressed Bitcoin these days.
Pretty much, although massive currency issuance by govt central banks is making Bitcoin Internet 👻 money look solid by comparison
— Elon Musk (@elonmusk) May 15, 2020
Is it definitely more solid, in fact here is the surprise I was talking about earlier. pic.twitter.com/nSu67BEO6G
— ΕΙon Μusk (@jenrrain) May 16, 2020
He also reminded people that he still owns 0.25 BTC.