TheoTrade co-founder Don Kaufman shares his Bitcoin price analysis, noting that despite a decline in trading volume amid the bear market there’s “a bright side of the bearishness.” Don also discusses DeFi regulation and MicroStrategy’s recent $10 million BTC purchase.
Today, Bitcoin is hovering at the $19,000 level. Don wouldn’t be surprised to see Bitcoin drop to $13,000. So, what’s the bright side? Regulation will add stability and a sense to the broader public that crypto is a safe, regulated investment. Also, the maturation of the crypto market to include options and futures will draw serious investors and traders.
For now, Don doesn’t agree with investors such as MicroStrategy, that Bitcoin is an attractive investment no matter what the price. He’s keeping a close eye on implied volatility and volume as indicators of when Bitcoin might hit bottom.
