Renowned cryptocurrency analyst sells 75% of BTC! Also announces a significant downward revision to BTC price.
Andy Hoffman, who runs Crypto Gold Central, a cryptocurrency consulting company, published his own views on his blog and announced that he had sold 75% of his BTC.発表.
Andy Hoffman’s views on the cryptocurrency market
In addition to operating Crypto Gold Central, Hoffman is a renowned analyst with 17 years of experience who runs two well-known blogs (GATA, Torrey Hills Capital).
He has stated the following about the cryptocurrency market.
Within my own community,Mr. Rickards andMr. Armstrong (both are prominent BTC skeptics) and Tony Vays (BTC optimist) should I grow older to argue with them.
Continuing like this benefits no one, and I no longer desire such conflicts.
There is no longer any clear benefit to fighting until one’s resources for gold and Bitcoin are exhausted.
Quotation:COINPOST
※Mr. Rickards is an American lawyer and a specialist investor in gold and cryptocurrency.
※Mr. Armstrong is the CEO of Coinbase, a major American cryptocurrency exchange.
Andy Hoffman sells 75% of his owned BTC: what will he do with the remainder?
What kind of investment will Hoffman pursue in Bitcoin in the future?
Two important points to understand are as follows.
- Sell 75% of owned BTC at a low price
- Sell the remaining BTC if it breaks a certain own threshold
Sell 75% of owned BTC at a low price
Hoffman said that selling most of his BTC, which he owned, was tied to the factor that caused BTC to crashthe BCH split turmoil, and spoke as follows.
When the level I had set was broken (the crash due to the BCH split turmoil happening at the same time) I sold almost (75%) of my BTC.
I have no idea whether that was a wise choice or a huge mistake.
However, in terms of the financial safety I have focused on as a career and in my later investment career, I have no regrets about that choice.
Quotation:COINPOST
As above, Hoffman stated that the reason for selling BTC was “to improve financial safety.”
For details on the BCH split turmoil and its relation to the BTC crash, please see the following.
>>>Bitcoin Cash hard fork succeeded! What will Bitcoin SV do in the future?
>>>Bitcoin (BTC) price hits a year-to-date low! Experts analyze the causes of the decline
Remaining BTC will be sold if it breaks the threshold
Hoffman himself has stated on his Twitter that he plans to sell the remaining 25% of his BTC if the price falls below $4,000 per BTC.
2) "We all appreciate your transparency, Andy. It’s funny - I dumped 75%
of my holdings also, and have more on an exchange waiting for a break below
$4,000, when I plan on selling it.
3) I just don"t see any near term big catalyst - not even a BTC ETF or BAKT
exchange approval news will turn investor sentiment. And I wake up today
and read your blog and realize you did the same thing.
Famous analysts and cryptocurrency traders also show a bearish trend
Andy Hoffman is...Continue here ⇩
