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27 September 2020

Not Every Analyst Is Convinced That Bitcoin Is Bearish as of Late | Live Bitcoin News

Not Every Analyst Is Convinced That Bitcoin Is Bearish as of Late | Live Bitcoin News


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It’s a sad time for many bitcoin enthusiasts, though there are several analysts out there that think the recently bearish trends affecting bitcoin aren’t that bad.

$7 million of long positions and $8 million of short positions were liquidated on exchanges like BitMex – bitcoin is still strong in many individuals’ eyes, and they are not ready to give up on the world’s biggest cryptocurrency just yet.

Either way, this number still falls within the five-figure range, and places bitcoin at a much stronger level compared with where it was just last year.

The CEO stated that many analysts and long-term traders expect bitcoin to incur heavy drops of around 30 percent or more once it experiences a major rally like it did just a few weeks ago.

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