Despite Negative News And Headlines, Bitcoin Price Moves Higher

Negative headlines, be damned….Bitcoin cares not

MACRO STRENGTH: BITCOIN’S PRICE MOVES HIGHER DESPITE PLETHORA OF BAD NEWS

  • Bitcoin faced some intense selling pressure yesterday evening after news broke regarding the founder of OKEx being arrested by the Chinese authorities
  • This is simply another set of news that has rocked the crypto market, but its impacts on Bitcoin’s price action has been surprisingly muted
  • It does not appear that investors aren’t too concerned that the prospect of OKEx users losing their BTC will strike a blow to the crypto’s technical outlook
  • Some analysts are even spinning this as a bullish possibility, as 200,000 BTC is locked within the platform
  • One trader is noting that Bitcoin’s strength in the face of bearish news surrounding exchanges seems to indicate that its macro bullishness is growing

https://bitcoinist.com/macro-strength-bitcoins-price-moves-higher-despite-plethora-of-bad-news/

 

Master Asked on October 16, 2020 in Bitcoin.
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