Striking a slightly different tone, Matt Kaye, the managing partner of Blockhead Capital, commented,
Dear Bitcoin haters,— Pomp 🌪 (@APompliano) September 28, 2020
Bitcoin has spent a record 63 straight days above $10,000 and is only showing signs of going higher.
The market is proving your bearishness wrong. There is always time to capitulate & join the party 🙂
we are essentially at $11k with no euphoria. No derivative long build-up. High stablecoin balances. Shorts are still unwinding. The sentiment is cautious at best (justifiably so with macro backdrop). Appreciate the rarity of this moment.The broken record occurred around the same time it came to light that investment firm Grayscale was again adding to its Bitcoin Trust. At current prices, the additional investments are said to be about 17,100 BTC, worth approximately $186 million. Meanwhile, bitcoin’s price is approaching a crucial resistance area, a breakout above which could confirm that the trend is bullish. For more in-depth Bitcoin analysis, click here.
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