Top Analyst Says Bitcoin Flashing Relative Strength Despite ‘Worst News Fathomable’ – But There’s a Catch

Top Analyst Says Bitcoin Flashing Relative Strength Despite ‘Worst News Fathomable’ – But There’s a Catch


A popular crypto strategist is highlighting Bitcoin’s (BTC) ability to hold current price levels in the face of a major black swan event.

The pseudonymous analyst known in the industry as Cred says Bitcoin is flashing relative strength despite the collapse of crypto exchange FTX.

At its height, FTX was considered the third-largest crypto exchange in the world, just behind Coinbase and Binance.

Trending: Ho–Ho–Ho! Hundreds of Employees At Fake News CNN Get the Axe Only Weeks Before Christmas

Says Cred,

“I understand that argument of relative strength that it’s holding up given the magnitude of what’s happening. If you’re going to make a bullish argument, it basically has to be that. We had the worst news that was fathomable and unfathomable yet the market is still kind of range bound on the daily [chart]. So someone’s willing to soak it

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend