Bitcoin (BTC) prices have recovered by more than 60% to $47,486 after bottoming out below $30,000 on July 20, triggering anticipations of an extended bull market toward $100,000. But to John Bollinger, a celebrated contributor to the field of financial analysis, investors should refrain from buying the benchmark cryptocurrency at current prices.
Bollinger advised in his Tuesday tweet that investors could secure their Bitcoin profits or build a hedge position elsewhere to offset potential BTC/USD decline risks. Explaining his cautious outlook, Bollinger noted that “aggressive traders can think about putting out some shorts,” which, in turn, could push the Bitcoin prices lower in the coming sessions.
Continue Reading on Coin Telegraph
