Bitcoin (
$78,524.00 ) has continued to trade below the psychologically important $60 thousand dollar level, causing some investors to remain bullish. However, other investors are not so optimistic. Crypto trader Lark Davis took to Twitter ($TWTR@US) on Thursday to say that the market’s current cycle “will pump harder and longer than most of you are prepared for” to beat investment expectations. Lark also went on to say that there will be no Bitcoin ( $78,524.00 ) top until well into 2022. CryptoQuant’s BaroVirtual said that whales are collecting Bitcoin ( $78,524.00 ) at a slower pace, exercising a bit of caution. OANDA Senior Analyst, Edward Moya, said that Bitcoin ( $78,524.00 ) has been stuck between 54 thousand and 60 thousand, and it could stay rangebound for much longer. Additionally, Delphi Digital says that Bitcoin ( $78,524.00 ) and Ethereum (
$2,310.87 ) balances have been dropping since April, hitting a 3-year low, meaning that exchange balances might not be as strong of an indicator as it used to be. At press time, Ethereum ( $2,310.87 ) was up nearly a percent.
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