Baxia Markets
September 30, 2021

Bitcoin Facing Resistance, But Investors Are Optimistic

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Over the last few days, Bitcoin (BTC) has been seeking to break above a succession of lesser price highs, yet the upside appears to be limited to the $45,000 barrier level. Buyers continue to defend the $40,000 support level, implying that short-term pullbacks are limited. According to CoinDesk 20 data, although trading 2.8 percent higher on the day at $42,200 on Wednesday, the leading cryptocurrency was suffering from a 10% monthly fall, the largest since May.




Orlando Bravo, co-founder and managing partner of private equity company Thoma Bravo, says he is a bitcoin investor who believes the cryptocurrency's value will rise over time as more institutional acceptance occurs. His private equity firm recently joined in a $18 billion Series B investment for cryptocurrency exchange FTX Trading. Bravo also mentioned that he has a personal bitcoin investment.


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