$3 Billion Crypto Manager Takes A New Stand On Bitcoin After Sudden Decline - And Gives A Trading Tip
Portfolio Pulse from Murtuza Merchant
Matrixport, a crypto service provider, has expressed optimism toward Bitcoin (BTC) following its decline in August. The company sees potential in purchasing during this downturn but emphasizes the importance of a strict stop loss. Markus Thielen, Matrixport's chief of research and strategy, anticipates a 10% downturn by summer's end, which has now occurred. He believes that with the right risk management strategies, traders might consider a long position once more.

August 29, 2023 | 3:17 pm
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Matrixport sees potential in Bitcoin purchases during its downturn. The company's chief of research anticipates a 10% downturn by summer's end, which has now occurred.
Matrixport's optimism towards Bitcoin despite its recent downturn suggests potential for recovery. However, the company's emphasis on strict stop loss indicates uncertainty in the market, which could impact Bitcoin's price in the short term.
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