The two biggest crypto currencies by market cap, Bitcoin and Ethereum, say nice gain over the past few days. BTC went well over US$40k and ETH hit as high as US$2.6k. These gains could have been due to the good news earlier in the week, but there has been some retracement with BTC and ETH trading at around US$38k and US$2.3k respectively. Is this a breakout or a fakeout? Tesla announced that it will resume accepting bitcoin as payment when miners eventually use more clean energy. Well played Elon, bitcoiners will take any good news during this deep dip. At least there are some whales capitalizing the dip with millionaire wallets increasing their holdings by about 90,000 bitcoins. Buying the dip could be the definition of smart money.
Breakout or fakeout?
Breakout or fakeout?
Breakout or fakeout?
The two biggest crypto currencies by market cap, Bitcoin and Ethereum, say nice gain over the past few days. BTC went well over US$40k and ETH hit as high as US$2.6k. These gains could have been due to the good news earlier in the week, but there has been some retracement with BTC and ETH trading at around US$38k and US$2.3k respectively. Is this a breakout or a fakeout? Tesla announced that it will resume accepting bitcoin as payment when miners eventually use more clean energy. Well played Elon, bitcoiners will take any good news during this deep dip. At least there are some whales capitalizing the dip with millionaire wallets increasing their holdings by about 90,000 bitcoins. Buying the dip could be the definition of smart money.