ADVERTISEMENT

Business

Famous economist Shant Manukyan follows these two indicators for Bitcoin (BTC)

ADVERTISEMENT

In his July 1 tweet, Shant Manukyan, manager of IS Investment International Capital Markets, shared two important indicators with his followers that he used to determine short-term capital confidence in Bitcoin (BTC).

Manukyan, shot on the morning of 1 July tweetIn, the news of the MiCA, a detailed regulation of the cryptocurrency market, or the news of El Salvador buying 80 Bitcoins are important to test the trust of the capital in Bitcoin, but himself effective with two different indicators expressed interest.

Hello, the MICA, which is a detailed deal, or the purchases of El Salvador, which bought 500 BTC from 30700 in May and now says “thank you for selling it cheap” when you buy 80 (DCA is nothing like that ) are important news, but what I follow There are 2 separate indicators.

Image

One of the indicators followed by the famous economist Manukyan GBTC. Manukyan filed the lawsuit filed by GBTC, whose application to become an ETF was denied. He says he doesn’t think he can win. According to their statements, GBTC reason to follow Funds that buy discounted Bitcoins like 3AC liquidation To follow. Manukyan seen in the GBTC volumes, in late June of the anomaly From 3AC sales He believes the reason for this is that the projection needs to know what stage the sales are at.

I am following GBTC for liquidation of funds like 3AC, not for discounts etc. Obviously it will not be possible to obtain GBTC, ETF liquidation (and lose the case). The long bars you see on the right are probably 3AC sales. Where we are in sales matters.

Following Shant Manukyan The second indicator is the Silvergate stock.. Manukyan, Silvergate Credit to Microstrategy and relationship with USDC because of Silvergate believes there is a gateway between cryptocurrencies and traditional capital markets. A possible exit or collapse of cryptocurrencies, the famous economist Which will reflect on Silvergate He claimed to believe it.

The second stock is on my radar due to its SI loan, MSTR but mostly its relationship with USDC. The realm of stable money is still boiling. If there is to be a true revival in crypto, it will show itself in the title YES (or vice versa). This sharing is also the gateway between two worlds.

Image

silvergatein March 2022 to microstrategy to buy cryptocurrencies He gave a loan of $ 205 million. From March, approx 60% depreciating Bitcoin, Microstrategy’s obligations increased by 60% + interest but this is not only the case with MSTR at Silvergate has deteriorated its risk profile. By calling up the Silvergate loan of bitcoin it can protect itself in case it falls further and the MSTR sinks. or call his loan on time. At this point MSTR risk of bankruptcy, accompanied by a satisfactory reward rate (Bitcoin’s rise to around $ 35-38,000) Silvergate Investors increase or maintain their investments. will be the precursor. Hence Silvergate stock price And trading volume us in the short term The attitude of the capitalists towards Bitcoin It is very important to explain.

ADVERTISEMENT

Leave a Comment