Add as a preferred source on GoogleByworth Ties a Potential Bitcoin Advance to Seller Exhaustion
Byworth warned that covered calls could cost holders a significant share of their Bitcoin during a rally. He described Bitcoin-backed basis trades as a lower-volatility, market-neutral way to seek dollar returns.
Richard Byworth connected seller exhaustion to his view that Bitcoin (BTC) could rise again, while warning that covered-call strategies may cost holders a significant portion of their holdings during a rally.
In a discussion published Oct. 19, Byworth argued that another upward move was a matter of time. His comments also addressed ways to seek yield while holding Bitcoin.
Byworth described basis trades backed by Bitcoin as a way to pursue dollar returns with low volatility and less dependence on the asset’s price direction.
Sonny Jang
ReporterSonny Jang reports on people and leadership in digital assets for TokenPost. Send corrections or tips to info@tokenpost.com.