Add as a preferred source on GoogleRichard Byworth Says Bitcoin Trading Resembles Nation-State Buying
He said Bitcoin rebounded after reaching $60,000 and claimed nations were secretly buying an “enormous amount” of the asset.
Richard Byworth said Bitcoin (BTC) repeatedly rebounding after reaching $60,000 looked like nation-state buying, a pattern he said did not appear to come from MicroStrategy or exchange-traded funds.
“Every time we get back down to $60,000, we go straight back up,” Byworth said. He described the trading as something that “feels like a nation state.”
Byworth also claimed nations were secretly buying an “enormous amount” of Bitcoin. The remarks extend Byworth’s earlier view on a potential Bitcoin advance, which tied a possible move higher to seller exhaustion.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.