Wall Street

Fortune Does Not Favor The Bitcoin Brave

Published by
ValueWalk

For weekend reading, Ivan Martchev, investment strategist at Navellier & Associates, offers the following commentary: Ever since I became suspicious of a double top developing in bitcoin, the leading cryptocurrency decided to cooperate with my theory and has been under a slow-motion bear market, recently trading under $20,000, down 70% in seven months. It doesn’t look good for the bitcoin bulls, as all buyers in 2021 are now underwater and are experiencing cascading losses, causing this liquidation to gain momentum. There have been many stories of holders of bitcoin (and other cryptos) not bei…

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