A popular crypto analyst claimed that during these hours of recent price drops, strong investors began to increase their long positions.
The trader and analyst, known by the nickname Light, shared on his Twitter account. Bitcoin (BTC) he thinks the reward-to-risk ratio is much more appetizing during these hours when BTC is trading just over $30,000.
“Whether Bitcoin bottoms out here or elsewhere, in three months none of this will matter. If you don’t believe me or don’t understand what I mean; I’m sorry, I don’t have time to try to convince you.”
As we have stated as Koinfinans.com, the analyst is also the expert of experienced traders. BTCHe also stated that he opened long positions at the current price of .
“Everyone may have gotten into the bear market mood and started singing bearish tunes, and that might appeal to many. But I know a lot of people who are taking advantage of the volatility and making money.”
lightstrengthened his argument by claiming that long positions on crypto exchange Bitfinex have soared to all-time highs.
“Bitfinex whales are rebuying the time-weighted average price in addition to limiting their bid walls, as they did in July last year.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.