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Bitcoin () is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.”
As reported cointelegraph, not everybody is in agreement, even on this.
When drafting, btc/usd redeemed at $20,800 through bitstamp, The market data of cointelegraph pro and tradingview has shown.. Bitcoin () trades at its highest levels in more than two months, but the sentence on the lips of every shopkeeper is "bull trap."
It has been called the “biggest bull trap” ever seen, and despite holding above $20,000, BTC price action is fooling no one.
Bitcoin bull trap fails to convince that it has been called the "greatest bull trap" ever seen, and despite holding over $20,000, BTC price action doesn't fool anybody. This week, Wall Street is closed to January.
17, outside the trading hours continues to support higher levels.
That is the current result of Cointelegraph’s dedicated Twitter survey asking market participants and other Twitter users whether the latest bull run has legs.
Belief in those who stay long is difficult to find.
A bull run or bull trap?
— Cointelegraph (@Cointelegraph) January 16, 2023
As of writing, only 38.6% of more than 5,000 respondents believe it does, with the majority agreeing that $21,000 BTC/USD is a "bull trap."
For those who have watched drop by drop throughout 2022, culminating in the ftx scandal, it just seems too beautiful to be true that bitcoin is now going to turn bullish. Once again, the biggest bull trap I’ve ever seen,” popular account Il Capo of Crypto wrote in a debate over the weekend.
Similarly skeptical was analyst Toni Ghinea, who likewise agreed with the “bull trap” description.
One more time, the biggest bull trap I've ever seen," popular crypto capo account wrote in a debate over the weekend. You know what happens next,” he added, having also predicted that BTC/USD would fall to $14,000 at some point in 2023.
“The very epitome of disbelief”
Others, meanwhile, are less categorical in their market appraisals but will not be drawn on the odds of the rally enduring.
Related: BTC price cancels FTX losses — 5 things to know in Bitcoin this week
Fellow trader Pentoshi forecasted “a decent amount of volatility and sharp moves each way imo short term” last week, while Jeff Ross, founder and CEO of Vailshire Capital Management, said that “only time will tell.”
“Regime change or bull trap?” he queried as BTC/USD approached its first weekly close above the 200-day moving average in months.
You know what happens after that," he said, having also predicted that btc/usd would fall to $14,000 at a certain point in 2023." the very quintessence of unbelief"others, meanwhile, are less adamant in their market assessments, but will not be drawn into the chances of the sustainable race.
“Seeing a lot of ‘I don’t trust this rally’ or ‘this is a bull trap’ or ‘why does this make me uncomfortable’ in my feed,” he tweeted at the weekend.
Investor and entrepreneur alistair milne, a veteran of Bitcoin markets, nevertheless got a message for those who are still on closing. Investor and entrepreneur Alistair Milne, a veteran of the Bitcoin markets, nevertheless got a message to those who are still on closing.
“Seeing a lot of ‘I don’t trust this rally’ or ‘this is a bull trap’ or ‘why does this make me uncomfortable’ in my feed,” he tweeted at the weekend. As Cointelegraph reported, not everyone agrees, even on this.
At the time of writing, BTC/USD traded at $20,800 on Bitstamp, data from Cointelegraph Markets Pro and TradingView showed.
