8 Reasons Why The Bitcoin Bear Phase Is Just A ‘Boogeyman’: Fund Manager

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He stated, “Gox seems more FUD than actual mass selling (just a guess but feels that way).” Related Reading: Bitcoin to the Moon? 300% Growth Predicted By This Latest Crypto Analysis He believes the creditors, many of whom are sophisticated investors, are likely to sell their holdings methodically, e.g.via TWAPs, thus reducing the impact on the market.

According to him, "Germany is speedrunning their #Bitcoin dump.” He predicts the selling will soon cease, suggesting, “By the time they get down to ~5k, the market will look through it.” Kling implies that the market impact of Germany’s Bitcoin liquidations is temporary and nearing its end.#2 Mt.

While the Bitcoin price hasn’t reclaimed the crucial $60,000 level to reenter the previous 4-month trading range, Ikigai Asset Management Chief Investment Officer (CIO) Travis Kling thinks that the current bearish phase is not more than a "boogeyman.” Via X, Kling listed eight reasons to be bullish on Bitcoin.He stated: "NFA.I’m wrong often.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: United KingdomAustriaGermany

Topics: Bitcoin Btcusd Btc price Bitcoin price analysis Bitcoin price Btc Bitcoin Travis Kling Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-10 @ 08:00:21 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 686 words

Reading Time: 4 minutes read

Sentences: 73 lines

Sentence Length: 10 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 21563358

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