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Here’s Why This Top Trader Is Bullish On Bitcoin
In the midst of a bearish market trend, top trader Samson Mow has expressed his optimism about the future prospects of Bitcoin. According to recent reports, cryptocurrency outflows have been substantial, with an estimated 2% of assets being withdrawn from exchanges. While this may seem alarming, some analysts, including Bloomberg’s Eric Balchunas, are downplaying its severity.
Mow, who has previously predicted a price drop for SHIB, believes that the current market conditions present a buying opportunity. He tweeted that $180 would be “generous” for his strategy, indicating a willingness to invest in the cryptocurrency at these levels.
Despite the recent market downturn, sentiment remains extremely bearish with the Fear and Greed Index reporting an unprecedented 21 points out of 100, indicating “extreme fear.” Weiss Crypto has also weighed in on the situation, cautioning that even if key support levels are breached, it’s essential to wait for confirmation before making any decisive moves.
While some market participants may be hesitant to invest due to recent losses, top traders like Samson Mow believe this is a chance to buy Bitcoin at a discounted price.
Source: https://u.today/heres-why-this-top-trader-is-bullish-on-bitcoin
