Reacting to Bitcoin’s stock price dropping significantly over the last two days, Hashdex partner Bruno Ramos de Sousa said the stock’s fall marks a “good entry point” for investors to buy the cryptocurrency on “Mornings with Maria” Wednesday.
STOCK FUTURES TRADE LOWER AHEAD OF RUSSIAN SANCTIONS, FED MINUTES
BRUNO RAMOS DE SOUSA: This is trending in between the 43K and 48K band in the past two months or so. It’s pretty normal. Bitcoin finds these bands and stays with them for a couple of months. If you look at the longer-term we saw six, seven, eight months ago bitcoin at around 60 to 65,000, so there is still space for the all-time highs.
If you think about it personally, I think this could be a good entry point, with the caveat that bitcoin’s always volatile, you can always go down to 30K pretty fast. So lots of attention, takes some time. But it’s an interesting band we’re in right now.
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