By CCN: The parabolic bitcoin price explosion, which saw BTC surge 136 percent in 2019, is a trap, according to on-chain analyst and Adaptive Fund partner Willy Woo. The price explosion is simply a short-squeeze driven by hedge funds. Organic buyers are waiting for a healthy retracement before buying in again. “This a quant fund driven short squeeze devoid of any true investor volume… I’m awaiting this exchange driven pump to blow off, a proper retrace, and only then do I think real investor flows will come in and drive the true organic bull market.” Bitcoin rally driven by short squeeze
The post Bitcoin Price Explosion a Trap, Smart Money Awaits Pullback: Analyst appeared first on CCN
Read the original post: Bitcoin Price Explosion a Trap, Smart Money Awaits Pullback: Analyst