Bitcoin (BTC) is still on track to hit $ 100,000 this year, and the latest fall is “constant price action”.
This was the conclusion reached by one of the most popular investors in the industry when the BTC / USD exchange rate returned after fleeing to almost $ 46,000.
Tabiro called “very rare buy signal” for bitcoins …
In a tweet on April 27, Dan Tabiro, the fund manager of Dan Tabiro, revealed that he was “flooded” with interested customers due to the recent fall in the price of bitcoin. However, there was no need to panic.
By emphasizing a technical (TD series) buy signal that has not been seen since the March 2020 crash of $ 3600, Tapiero gave hope to those who wondered what happened to the countless BTC price forecasts for 2021.
“A buy signal in bitcoin is very rare. It was last seen on March 20. I’m still seeing 100,000 this year. ”
“In recent days, she has been gripped by panic calls because the price has not changed … that is, it is still at the level of 50 thousand. Hodl is the only way to endure without emotion. ”
… while the market looks at a new “Elon light”
The comments came with a bizarre exchange of views between Tesla, SpaceX CEO Elon Musk, and the acclaimed trader Dave Portnoy, the latest popular Bitcoin skeptic who succumbed to pressure to add it to his portfolio earlier this year.
When it became known that Tesla had sold part of the assets, Portnoy took it as proof of the company’s lack of faith in its ability to survive in the long run. Musk denied this and claimed that it was in fact a test of utility.
Part of the response on Twitter is: “I did not sell bitcoins.”
“Tesla initially sold 10% of its assets to demonstrate the liquidity of Bitcoin as an alternative to keeping cash in balance.”
Musk is the classic source of bitcoin price movements in the short term, and any admission that it has given up distribution for good can easily turn fate in the opposite direction.
In this case, the BTC / USD pair has returned to near $ 55,000 levels, yielding a gain of almost 10% since the start of the weekend in what may be a classic Elon candle.
Adam Buck, CEO of Blockstream, commented on Twitter: “Bitcoin Hodl Confirmed.”
Tesla even reported record profits this week.
As Cointelegraph reports, the main principles of Bitcoin are largely related to the “business as usual” of the largest cryptocurrency, despite recent disruptions.
Changes in the conditions of the miners that may lead to falling prices are already expected on Monday, and weak traders who are betting on more losses have been eliminated.