• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Vechain price prediction

    VeChain price prediction: VET set to move higher again, resistance to break at $0.056

    Ethereum Price Prediction

    Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

    SEC allegations

    John McAfee claims SEC allegations laid against him are exaggerated

    ADA/USD

    ADA/USD Price Prediction: Cardano faces resistance at $1.32 after Mary Hardfork

    Litecoin Price Prediction

    Litecoin Price Prediction: LTC/USD Bullish Amidst Strong Selling Pressure

    Crypto market

    Crypto market: Thailand to set new regulations amid high interest

    XRP/USD Price Prediction

    XRP/USD Price Prediction: Will Ripple(XRP) Retest $0.50 Resistance?

    Bitcoin price movement

    Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

    Bitcoin price analysis Tight price range halts uptrend as $46K support holds

    Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Vechain price prediction

    VeChain price prediction: VET set to move higher again, resistance to break at $0.056

    Ethereum Price Prediction

    Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

    SEC allegations

    John McAfee claims SEC allegations laid against him are exaggerated

    ADA/USD

    ADA/USD Price Prediction: Cardano faces resistance at $1.32 after Mary Hardfork

    Litecoin Price Prediction

    Litecoin Price Prediction: LTC/USD Bullish Amidst Strong Selling Pressure

    Crypto market

    Crypto market: Thailand to set new regulations amid high interest

    XRP/USD Price Prediction

    XRP/USD Price Prediction: Will Ripple(XRP) Retest $0.50 Resistance?

    Bitcoin price movement

    Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

    Bitcoin price analysis Tight price range halts uptrend as $46K support holds

    Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Here are 4 reasons why not to short Bitcoin right now

Gurpreet Thind by Gurpreet Thind
August 16, 2020
in Bitcoin News
3 min read
Here are 4 reasons why not to short Bitcoin right now
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Yes, there are traders looking to short Bitcoin even in today’s roaring BTC market. The Bitcoin price has survived the Coronavirus pandemic and is well on its way to touch new highs. However, there’s a huge segment of traders willing to go against the trend and short Bitcoin. Despite the ongoing move beyond $12,000, some bears think that this is the upper limit for BTC/USD pair.

How can you be bearish Bitcoin here?

– Portnoy in Bitcoin
– Fed investigating crypto dollar w MIT
– Gold S/R flip
– +26% Tether
– 45% supply hasn't moved in >2yrs
– Energy Value increasing > price
– Mining profitable & price near Production Cost
– Accumulation price structure

— Charles Edwards (@caprioleio) August 13, 2020

Bitcoin price has been repeatedly rejected from $12,000 level, which is causing concern for the bulls. Many traders think that the price could spiral down towards $9,000 mark. Despite some bearish omens, fund manager Charles Edward believes that there’s no reason to go all gloomy on the crypto king and short Bitcoin.

Charles cites a number of Bitcoin-related macro factors that will drive the next bull rally and push the price to fresh new highs. Here are four factors that Charles thinks will push Bitcoin price upwards in the coming days.

RelatedPosts

Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

Bitcoin price now above $51,000

1. Adoption by Dave Portnoy

Winklevoss twins helped Dave Portnoy, a famous day trader, purchase Bitcoin. This is nothing short of mainstreaming Bitcoin into the traditional trader’s psyche. Crypto analysts think that the move will introduce Bitcoin to thousands of Dave’s followers. It can certainly spurt BTC trading and increase the exposure of Bitcoin to many more ‘Robinhood’ traders.

I’m officially inviting the Winklevi twins to my office to explain bitcoin to me. Have to wear the rowing outfits though. #DDTG pic.twitter.com/owQr0aZVdn

— Dave Portnoy (@stoolpresidente) August 4, 2020

2. Federal Reserve digital dollar project

The news of Federal Reserve collaborating with MIT for a digital dollar project has the crypto community all excited. Even though the project is a research experiment, it certainly reflects how the Federal Reserve is warming up to cryptocurrencies. Given the reserve currency status of the US dollar, the project carries global financial importance.

The digital dollar research project will be a milestone in central bank digital currency policy development. The project will also spark interest in Bitcoin and crypto assets, in general.

3. Increasing Tether market cap

The market capitalization of Tether is increasing at a rapid rate. The recent rise of 25 percent pushed Tether market cap beyond $10 billion level. The surge indicates an increasing capital interest in BTC and other altcoins. A move to short Bitcoin may backfire.

4. A major portion of Bitcoin supply still waiting to move

Despite new BTC/USD highs being posted daily, blockchain data indicates that a significant portion of Bitcoin supply hasn’t entered circulation yet. This means that big players are yet to take part in the current rally. Glassnode data shows that 61 percent of BTC stored in wallets is stagnant for the past 12 months. So, wait for the whales to make some big moves before traders short Bitcoin.

The last time we saw this amount of #Bitcoin that had not moved in over a year, was in early 2016 – preceding $BTC's bull run to $20k.https://t.co/lquCOcHXPX https://t.co/Hvf4lW72U6 pic.twitter.com/xGXYdqSewE

— glassnode (@glassnode) June 28, 2020

Fundamental factors are all lining up to support a further bull rally in Bitcoin price. Let’s see how long the $12,000 resistance holds up against a raging bull phenomenon.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

Bitcoin price movement
Bitcoin News

Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

March 6, 2021
Bitcoin price analysis Tight price range halts uptrend as $46K support holds
Bitcoin News

Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

March 6, 2021
Bitcoin price
Bitcoin News

Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

March 5, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

How Bexplus Apps Make Trading Crypto Futures Easier 1

How Bexplus Apps Make Trading Crypto Futures Easier

March 6, 2021
EIP-1559

EIP-1559 get the nod for Ethereum’s London Hardfork

March 6, 2021
Vechain price prediction

VeChain price prediction: VET set to move higher again, resistance to break at $0.056

March 6, 2021
Ethereum Price Prediction

Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

March 6, 2021
SEC allegations

John McAfee claims SEC allegations laid against him are exaggerated

March 6, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 2

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.