RE: Bitcoin Holding Its Own
Amidst all of the insanity in the markets, Bitcoin is holding its own and is now at $5830 this morning
Bitcoin Is Holding Its Own, and That’s Not Too Shabby
“Most recently, BTC is meandering between positive and negative ground or trading flat but most importantly is holding onto the $5,200 threshold. It’s a positive sign while other assets have shown absolutely zero sign of hitting a bottom. Investors ran for the exits from stocks, bonds and gold today and didn’t look back while they managed to cling to Bitcoin.
According to Hunter Horsley, CEO at Bitwise Asset Management, nearly three-quarters of Coinbase investors were buying today. He pointed out the Herculean feat in a tweet in which he observed that Bitcoin’s ability to hold on occurred without the help of circuit breakers or government intervention to prop it up, which he simply described ‘impressive.’ One day does not a trend make, but as Horsley pointed out in the Twitter thread, ‘we’re all watching daily.’”