Bitwise CIO: The real reason for bitcoin's decline is that those holding long positions in bitcoin are selling
Foresight News reported that Bitwise Chief Investment Officer Matt Hougan tweeted, "There are all kinds of conspiracy theories. First it was a certain exchange, then Wintermute, and next week it might be someone else. The real reason for bitcoin's decline is that many people holding long positions in bitcoin have sold their positions. They sold through spot trading, by closing leveraged positions, and by selling call options. The reasons they sold their holdings include the 4-year cycle, concerns about quantum computing, a desire to invest in AI startups, and other factors. They have basically stopped selling, and we are now in a bottoming and rebound phase. In the future, we will reach new all-time highs."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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