A huge green and red candle appear on the hourly chart as a result of yesterday’s news. Litecoin (LTC) would be accepted by Walmart in all its stores. Later it turned out that this was not true. You can read more about this news in this article. Has the panic for a further sell off taken care of? In this article a number of interesting tweets from analysts, among others.
Litecoin pump & dump
Following the pump & dump yesterday, people are taking advantage of the news here and there to put crypto in a bad light again. For example, Nick Bilton, a journalist from Vanitiy Fair, calls for strict regulation of the sector. Alex Krüger, economist and crypto trader, comments:
“These pump & dumps also take place in traditional markets. Pump & dumps are a form of market manipulation and is already illegal.”
These pump & dumps also take place in traditional markets. Pump & dumps are a form of market manipulation and are already illegal. https://t.co/GVlULzGlqm
— Alex Kruger (@krugermacro) September 14, 2021
Bitcoin investors increasingly hodl
Then a tweet from investor Lark Davis. He noticed that bitcoins (BTC) that have moved in the past three months, all time low (ATL) to stand. Bitcoins that were moved over the past three months now make up just 15.9% of the total bitcoin supply.
“We just hit a new low for young bitcoin (under 3 months) HODL wave. This often marks the end of a bearish period and is often a time when the big bucks are buying.
Retail hype money bought BTC in April and that is now being sold to institutions.
BTC 100k at the end of the year.”
We just hit a new all time low for young #bitcoin (under 3 months) HODL wave. This often signals the end of a bearish period and is often a time when big money accumulates.
Retail hype money was buying BTC in April, and now that is being sold to institutions.
BTC 100k EOY pic.twitter.com/LrDpb2y4mU
— Lark Davis (@TheCryptoLark) September 14, 2021
Has bitcoin reached its support?
The bitcoin price has not really had a clear direction for a while, especially after the correction on September 7. Analyst and trader Pentoshi raises the possibility that the current price zone at $45,000 may be a support can form and thus a higher low can be in the way up. “As long as we are above $41,000 we are bullish,” the analyst said in a tweet:
“This could be a macro HL for BTC
It previously acted as support. We pulled the HL out of the Macro downtrend and then climbed for weeks with no significant declines
As long as we are above 41k we are bullish
Btc has a way of looking bad and then surprising everyone”
goodnight fam
This could be a macro HL for $BTC
It acted as support before. We took out the HL from the Macro down trend then climbed w/o any notable pullbacks for weeks
As long as we are above 41k we are bull
Btc has a way of looking shit and then surprising everyone pic.twitter.com/co6CARflvB
— 🧸🔫🐧Pent◎shi Wont DM You (@Pentosh1) September 14, 2021