It’s a new year and from Cointelegraph en Español we have talked with Iván Paz, CEO of Trading Different, who shared his current impressions of the crypto market and also left us his brief analysis regarding the current behavior of the main cryptocurrency, Bitcoin.
First, Paz told us that at this point in the bear market, we may have seen the full Deep, additionally there is not enough floating supply to generate new lows in the market, and that the patterns we see with the liquidation pools are beginning to be bullish in the medium term.
“In fact, the previous drop in the pools has to do with the FTX effect, which, although it has already been overcome, was the driving force behind cleaning up the Liquidation Pools that we had commented on in previous months”he expressed.
Regarding Bitcoin, Paz revealed that he believes that the only way he expects to find Bitcoin marking new lows below $15,400 is with the emergence of a new black swan in the crypto ecosystem, Because in his opinion, the cryptoactive is currently forming new liquidity paths, which will facilitate a recovery above USD 21,000.
“As we can see, the technological and monetary fundamentals of Bitcoin were and continue to be bullish. To highlight, we can appreciate the increase in volume year after year (although we distrust this data from the other exchanges, Coinbase, being regulated, is the most reliable). Even in this 2022 having suffered a significant setback, we see a high Bitcoin trading”commented
“It should be noted that it still has a lot to grow, it is still an immature market, it is in its adolescent stage with ups and downs and impulsive outbursts haha. But in the long term, the market should look for decreased volatility and constant Demand.”Peace added.
In another sense, from a more technical point of view, regarding the current lateralization that the cryptoactive is having, he mentioned the following: ”This lateralization is accompanied by little volume and little interest in the market. We know that for us these are the best investment moments in the medium and long term, and it also translates into an increase in liquidity in the Pools”said.
Finally, and to conclude, Paz once again stressed that despite having a global recession and rate hike scenario, he believes that Bitcoin will have the opportunity to demonstrate its strength against fiduciary money and we will begin to see a recovery in the market.
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