Bitcoin, Ethereum, Dogecoin Rise On BlackRock ETF News: Why This Veteran Trader Says King Crypto Is 'Hinged To The Downside For Now'
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies rose briefly after BlackRock's iShares unit filed with the SEC to launch a spot Bitcoin ETF. However, veteran trader Peter Brandt warns that Bitcoin may be on the verge of a significant downward move.
June 16, 2023 | 2:38 am
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NEGATIVE IMPACT
Bitcoin rose briefly on BlackRock ETF news, but may face a significant downward move according to Peter Brandt.
Bitcoin's price rose after the BlackRock ETF news, but Peter Brandt's warning of a potential downward move could negatively impact its short-term price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin rose briefly on BlackRock ETF news, but the overall market outlook remains uncertain.
Dogecoin's price rose after the BlackRock ETF news, but the overall market outlook remains uncertain, making it difficult to predict its short-term price direction.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Ethereum rose briefly on BlackRock ETF news, but the overall market outlook remains uncertain.
Ethereum's price rose after the BlackRock ETF news, but the overall market outlook remains uncertain, making it difficult to predict its short-term price direction.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80