Free investment fund manager Matt D’Souza thinks that the key factor for Bitcoin owners who want to take advantage of block prize split will be patience .
“Time is not time for daily trading,” said D’Souza, co-founder and CEO of Blockware Solutions, which also runs cryptocurrency mining activities. says.
D’Souza said, “In 2016, Bitcoin had increased by about 67 percent as it moved towards halving. Then it dropped 33 percent in three weeks, and this was the beginning of a 17-month bull market. In 2020, we have not seen an increase towards halving since we are still struggling to compensate for the losses caused by the economic turmoil in the global market. But the basics for Bitcoin have never been better. ” commenting.
1) In 2016, #Bitcoin rallied ~67% into Halving. It corrected 33% & bottomed within 3 weeks only to begin a 17 Month Bull Market.
In 2020, we didn't rally going into Halving as we recovered losses from a Global Market Melt Down. The Fundamentals for Bitcoin have never been better.
— Matt D'Souza, CPA (@mjdsouza2) May 13, 2020
D’Souza argues that in the continuation of his words, halving is generally “buy the news, sell the rumor”. As it is known, “take the rumor, sell the news” is a common motto in the traditional markets and this is often the case in crypto markets. Apparently, D’Souza argues that the opposite is true in the case of halving. “I’m expecting less sales in 2016 than in 2016, and we’ve already had a 20 percent correction, and it’s only 1.5 – 3 weeks,” said Blockware CEO. Now is the time to be patient and hold BTCs, not daily trading. Big money settles and catches the cycle. ” uses expressions.
D’Souza also points out that Fed’s despairing money will result in negative interest rates. Moreover, he notes that 16 percent of miners are now closed, and with inefficient miners leaving the network, this provides Bitcoin a better environment for a rally.
Bitcoin, which is the largest cryptocurrency with its market value, is trading at $ 9380 in minutes of the news.