BlockBeats News, November 16th, Formula News founder Vida announced that he had accumulated some BTC today as a long-term investment. He also acquired a small-cap Meme coin for a few months of short-term speculation. The total expenditure was equivalent to 0.7% of his net worth, indicating a casual move with limited gains and losses. Currently, he is more bullish on the crypto market’s performance in the coming months because:
As I analyzed, even if the U.S. stock market falls, it won’t plummet too severely. The significant drop in the crypto market seems a bit overly panicked;
BTC is currently at the support of the 1-week supertrend indicator, which is arguably the most effective support in this bull market cycle;
The altcoin market sentiment is somewhat overly panicked, and buying during times of excessive panic tends to have a higher success rate.
Of course, the best buying opportunity in the world is when Strategy or Bitmine face liquidation. However, it is currently not visible when such an event might occur within a year.
