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Bitcoin Can Lose 50% Or Gain 200% During Volatility: Strategist

Published 11/03/2023, 10:25 PM
Updated 11/03/2023, 10:45 PM
© Reuters Bitcoin Can Lose 50% Or Gain 200% During Volatility: Strategist
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  • Bitcoin’s volatility means that a 50% loss is just as possible as a 200% gain, according to one strategist.
  • The strategist believes the best course of action would be to hold a nominal amount of Bitcoin indefinitely.
  • On-chain data suggests both whales and retail investors have been buying Bitcoin.

Bitcoin’s volatility means that a 50% loss is just as possible as a 200% gain, according to Ryan Grace, head of wallet developer tastycrypto. According to Grace, for those who believe in Bitcoin, the best course of action would be to hold a nominal amount of the cryptocurrency indefinitely.

Grace made these statements and others while speaking with Coin Edition about the recent Bitcoin volatility. He noted that data from on-chain analytics suggest both whales and retail investors have been buying Bitcoin, a trend that typically coincides with upward price movement.

The tastylive’s Crypto Concepts co-host explained that adding to this bullish outlook, Bitcoin’s surge beyond $35,000, supported by a positive MACD and increased trading activity, suggests the rally has momentum. He further noted that the recent surge coincides with the lead-up to the Bitcoin halv…

The post Bitcoin Can Lose 50% Or Gain 200% During Volatility: Strategist appeared first on Coin Edition.

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