Equation Founder: Today Increasing BTC Holdings as Long-Term Investment, Market in Overdue Panic
BlockBeats News, November 16th, Formula News founder Vida announced that she has increased her BTC holdings today as a long-term investment. She has also invested in a small-cap Meme coin for a few months of short-term speculation. The total amount spent is equivalent to 0.7% of her net worth, indicating a casual move with limited gains and losses. She is currently optimistic about the performance of the cryptocurrency market in the coming months because:
- As I analyzed, even if the US stock market falls, the decline will not be too severe. The significant drop in the cryptocurrency market seems to be somewhat over-panicked;
- BTC is currently above the support of the 1-week supertrend indicator, which is probably the most effective support in this bull market cycle;
- The altcoin market sentiment is somewhat over-panicked, and buying during times of over-pessimism has a higher success rate.
Of course, the best buying opportunity in the world is when Strategy or Bitmine faces liquidation, but it is currently not foreseeable that this moment will occur within the next year.
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