Volatility Statement From Famous Analyst Coinexc

Analyst Justin Bennett expects crypto investors to face much more volatility in the coming weeks.

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Bennett argues that behind the Bitcoin (BTC) dream are rich actors who want to consolidate their positions in crypto money.

“It’s good to see today’s rally, but remember who brought Bitcoin down from $65,000 to $30,000. Institutions need to accumulate now. This won’t happen in a day.

So how do they buy lower? There may be more volatility in the next few weeks.”

The analyst also stated that Tesla CEO Elon Musk did not cause the Bitcoin drop. According to Bennett, this happened because of the panic of institutional investors.

“Panic selling does not happen without panic. So who caused the panic? Institutions… It looks like some people think I was talking about Elon, but he didn’t drop Bitcoin. Institutions dropped it. “

The crypto analyst says that institutional investors are waiting for $28,000 to $30,000 for a buying opportunity.

“If we are currently in a roundup phase, we can say that institutions will test the limits of around $30,000, maybe even $28,000.”

Bennett also says that a rapid and continuous upward movement (V-shaped recovery) in bitcoin price could occur, but only after institutional accumulation.

“The only way we can achieve a V-shaped improvement is if the institutions allow it.”

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