Insights

BTC Meets Stiff Resistance As Bears Confirm Win

With $40k holding as strong resistance despite an impressive showing over the weekend we have a confirmation that the Bears are in full control. The rejection signals a whole lot of short term pain. A prediction was made by us that has been echoed by cointelegraph “That macro landscape was poised to deliver a fresh bout of uncertainty on Monday’s open thanks to moves by the West to cut Russian banks off from off-shore liquidity and the SWIFT payment system.”

As Twitter user Jason Lowery tweeted Saturday: “What does it mean for USD & SWIFT if *both* sides of the conflict opt into #Bitcoin for its superior features? Answer: It means all countries & institutions better buy up as much #Bitcoin as they possibly can now b4 their financial platform gets obsoleted.”

Right now that is one of the only things that can save the crypto markets from a pretty brutal bear market. 

Leave a Reply

Your email address will not be published.