Warren Buffett Upgrades Bitcoin From “Rat Poison” to a “Gambling Token” as Ethereum Prepares To Undergo a Major Change
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
As a major portion of the US banking edifice threatens to come tumbling down amid the Federal Reserve’s relentless interest rate hikes, Bitcoin’s comparative resilience – even if aided by the Fed’s newly revived liquidity spigots – is now forcing even die-hard antagonists to cede ground.
Berkshire upgrades Bitcoin from rat poison to gambling token https://t.co/qGqUTV1EKt
— djohnson.eth (@DJohnson_CPA) April 12, 2023
To wit, Berkshire Hathaway’s octogenarian chairman, Warren Buffett, has now upgraded Bitcoin from “rat poison” to a “gambling token.” The famous investor has repeatedly vowed never to dabble in cryptocurrencies.
Nonetheless, as we noted in a previous post, Bitcoin’s stellar 80 percent gains so far this year recently propelled the cryptocurrency out of its macro downtrend and on the cusp of clinching its coveted macro uptrend.
Bitcoin trading like a high beta shitcoin currently is a good representation of actual passive supply being unloaded on buyers.
$30K is the risk price for bulls today
— Skew Δ (@52kskew) April 12, 2023
On a shorter time frame, as exhaustion sets in, calls for a pullback are growing again.
Notice the lower highs in the chart above. This is a classic momentum exhaustion pattern.
#BTC has enjoyed a Daily Close above the Higher High resistance
Which now means a dip into the Higher High for a retest is now in progress
Successful retest there and $BTC will confirm a breakout beyond the Higher High to enjoy trend continuation#Crypto #Bitcoin https://t.co/m3AK9m4BAb pic.twitter.com/QQuw5dTsiB
— Rekt Capital (@rektcapital) April 12, 2023
According to Rekt Capital, Bitcoin
Read more on wccftech.com
