Fund manager currently sees a “good buying opportunity” for Bitcoin

Fund manager currently sees a “good buying opportunity” for Bitcoin

The ups and downs of the current Bitcoin price development should not hide the fact that the outlook is clearly positive.

Fund manager currently sees a

Bitcoin (BTC) swung back towards the latest record high yesterday, Thursday, but recently it went down again. Nonetheless, a fund manager sees the current price development as a “good buying opportunity”.

Bitcoin hourly chart (Bitstamp). Source: TradingView

Like the data from Cointelegraph Markets Pro and TradingView show, BTC / USD was able to gain 3.3% yesterday, Thursday, reaching as high as $ 62,600, which is already higher than the previous record high of $ 61,700 from March.

Positive outlook

On Monday of this week, a new high was set when Bitcoin rose to almost $ 65,000. Afterwards, however, the crypto market leader fell slightly again, which is probably largely due to the market launch of the Coinbase share.

At the time of going to press, Bitcoin is leveling off again at $ 60,500 as part of the overarching sideways movement.

Despite the current losses, Jeff Ross, CEO of Vailshire Capital Management, sees the market-leading cryptocurrency still on the upswing.

“We are currently seeing a re-test of the top of the wedge formation where we are moving sideways. From a macroeconomic point of view, I am extremely positive, and I am also extremely positive with regard to the on-chain data ”, as he accordingly writes on Twitter. He adds:

“My Opinion: The price will climb back above the ceiling at $ 61,250 and then move higher. So we are currently in a very good buying opportunity. “

Little pressure to sell under $ 70,000

In fact, the order books of the major crypto exchanges suggest that Bitcoin still has room for improvement, at least in the short term.

The next big sales are only planned for 65,000 US dollars, followed by heavy sales pressure only at 70,000 and 72,000 US dollars.

Selling pressure on Bitcoin. Source: Material Indicators

The analysts have been targeting these areas for a long time as possible resistance to the ongoing record run.

The fundamental data are still clearly positive, the number of Bitcoin wallets that hold at least 0.01 BTC has now risen to more than 9 million units for the first time, which shows that more and more investors are holding the market-leading cryptocurrency and of its long-term Are convinced of the potential.

Bitcoin wallets with more than 0.01 BTC. Source: Glassnode
  • #Bitcoin
  • # Bitcoin rate
  • # Markets

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