With Bitcoin’s current market price at $7700, investors are carefully anticipating for a Buy signal.
While observing the movement in the charts over the weekend, Veteran trader Peter Brandt suggested on June 1 that the charts could indicate a Buy signal today, Monday, even though he had to emphasize that he only said “could,” not “would.” He urged investors to stay tuned for possible developments on the top crypto’s price and the investors’ possible gains.
The hype is fueled even further by Pantera Capital CEO Dan Morehead, who repeatedly urged crypto enthusiasts to buy Bitcoin. Morehead said on CNBC: “It’s much cheaper to buy now and participate in the rally as it goes.” Furthermore, he explains:
“here’s an image out there where there’s an ‘on-off switch’ and it’s off now and they’re going to flick it on on some particular date and institutions will pile in. […] It’s a process. Obviously, risk and reward go together; a couple of years ago there was a lot of risk but there was a lot of rewards, and we’ve yet to get to the point where we have an SEC-regulated custodian which is the one silver bullet everyone’s waiting for — but many institutions are buying the rumor and selling the fact.”