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.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.