Bitcoin survived
On Dec 17, in our post, Bitcoin is dead - long live bitcoin, we reminded our readers that every time an academic proclaims it dead, the crypto tends to bounce. We wrote: "Usually these abrupt reversals tend to occur when some "smart" person is out bashing cryptos. Today was one of those days. In case you missed the CNBC headline earlier today: "Bitcoin "may not last that much longer," academic warns..."
Here we are with BTC moving higher. We haven't seen it do much over the past weeks, but the candle so far is interesting. BTC has traded perfectly inside the negative trend channel that has been in place since November. A close above it and the new bears could start to sweat. As we have been pointing out over past days, skew has been relatively well bid and rising in BTC.
Here we are with BTC moving higher. We haven't seen it do much over the past weeks, but the candle so far is interesting. BTC has traded perfectly inside the negative trend channel that has been in place since November. A close above it and the new bears could start to sweat. As we have been pointing out over past days, skew has been relatively well bid and rising in BTC.
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