Crypto Daily – ($BTC) holders, and those looking to long or short the number one cryptocurrency, are currently indecisive. Bitcoin all but reached the $100,000 price level, but has been rather volatile since then. Is there more downside to come, or is this just another period of consolidation before Bitcoin shoots much higher?
Long-term holders take profits, but a smaller percentage each time
For the average retail investor, who perhaps hasn’t been in the Bitcoin trading/investing space very long, a rather difficult decision is perhaps being mulled over. The king of the cryptocurrencies recently reached the incredibly important milestone of $100,000 (or just a couple of hundred dollars short of it). Market wisdom says that these big round figures are likely levels where many investors will be taking profits.
Indeed, this has very likely happened. Long-term investors use these landmark levels to sell part of their bags into the huge liquidity that accumulates as…
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