Legendary trader John Bollinger, known for creating the widely used Bollinger Bands indicator, has made an important prediction about the price of Bitcoin (BTC) that has caused a stir in the crypto community. In a recent post on X, Bollinger said that the “selling on news” trend that has engulfed the market since the Spot Bitcoin ETF was approved by the SEC may be over.
John Bollinger expresses optimism about Bitcoin (BTC) price
Bollinger’s comments come at a critical juncture for Bitcoin, as the cryptocurrency market grapples with uncertainty from regulatory crackdowns and market volatility.
The phrase “selling the news” refers to a common trading strategy in which investors sell their positions after a significant news event in anticipation of a subsequent price decline. Bollinger’s comments suggest that this strategy may not be as effective in the current Bitcoin market environment.
Although Bollinger did not provide detailed analysis or specific reasons behind this prediction in his post, his reputation as an experienced trader lends weight to his statements. Meanwhile, Bollinger’s optimism about Bitcoin contrasts with widespread skepticism among some investors and analysts.
Notably, Bollinger’s post suggests that he sees through the short-term noise and remains confident in Bitcoin’s long-term prospects. Similarly, his tips on notable next steps in Bitcoin’s price journey highlight the importance of vigilance and strategic analysis when navigating the cryptocurrency market.
Main trends in price vs trend
Bitcoin, the largest cryptocurrency by market capitalization, has continued its strong recovery since mid-September, when its price recovered from $25,000. In just four months, the coin’s price registered a growth of nearly 96% and reached a high of $49,000. Along with the recent release of Spot Bitcoin Exchange Traded Fund (ETF) Assets struggled to maintain the $48,000 level as the recovery trend is expected to strengthen.
Veteran trader Peter Brandt recently shared some thought-provoking thoughts on Bitcoin and its evolving market dynamics. In his extensive experience with stocks and futures, Brandt observes that a rush of buying into the market by the general public often signals the perfect time for seasoned traders to sell their holdings.
Brandt suggested that the possible approval of a Bitcoin ETF could turn into a classic “buy the rumor, sell the news” scenario, reflecting a pivotal shift in the crypto market. There is. Meanwhile, Bitcoin price rose 1.35% to $41,786.06 at the time of writing, according to on-chain data.
While the hype surrounding the approval of the Spot BTC ETF has captured the attention of traders and investors, another important milestone, Bitcoin halving I’m waiting for it later this year. Robert Kiyosaki, author of “Rich Dad, Poor Dad” called for caution Over 2.4 million followers follow the upcoming halving event and its bullish impact on Bitcoin (BTC) price.