21.05.202112:25 Forex Analysis & Reviews: Anthony Scaramucci: the bull market is not over

Earlier, we already talked about the fact that "crypto experts" and participants in the cryptocurrency market have already begun to predict $100,000 for a bitcoin coin again, just to keep the "bullish" trend and attract new investors. The most eloquent example should be cited. MicroStrategy, which acquired 91,000 bitcoins (according to official information), lost a couple of billion dollars on the fall in the quotes of the first cryptocurrency, and a couple of billion more on the fall of the company's share price, which are closely related to bitcoin quotes. The average purchase price of all coins, according to the company itself, is about $24,000. Thus, if bitcoin drops again to $30,000 per coin, companies will receive practically no profit. And trying to get rid of their coins, will cause an even greater collapse of bitcoin quotes. Thus, many traders and investors suffered losses from the last drop in bitcoin, which is currently $26,000. But crypto billionaires need to keep the bullish trend at all costs. Therefore, we again become witnesses of "brilliant" explanations of what is happening. For example, the founder of SkyBridge Fund Anthony Scaramucci said that he is confident that the bull market is not over, and the first cryptocurrency will continue to grow in the future. In addition, Scaramucci also explained why bitcoin has collapsed in recent days. In his opinion, the reason for the fall was the massive liquidation of margin positions of small traders. According to analytical portals, during May 19, traders lost about $8 billion on transactions with bitcoin. However, it should still be recognized that some large market participants who do not depend on a single bitcoin make more realistic predictions. For example, analysts at investment bank JPMorgan said bitcoin could drop to $26,000 per coin. At the same time, the CEO of MicroStrategy posted on Twitter that his company acquired 111,000 bitcoins and did not sell a single satoshi. Thus, it turns out that during the fall of the last few days, the company, which actually should devote more time to the development of analytical software, continued to buy bitcoins. At this rate, only MicroStrategy will own the bitcoin coins.

Technically, bitcoin on the 4-hour timeframe fell to two important support levels, after which it began a corrective rise. The quotes even managed to overcome the Kijun-sen line, but we would not celebrate this occasion now. The market still needs to calm down and only after that it will be possible to talk about the further prospects of "digital gold".