Crypto analyst and economist Alex Krüger says Bitcoin’s stability in the aftermath of the newly revealed Binance hack proves Bitcoin is no longer in a bear market.
In a bear market this would have easily have caused a deluge. Either way, good excuse for bulls to take cover, bears to charge.— Alex Krüger (@krugermacro) May 7, 2019
Fundstrat analyst Tom Lee responded to Krüger with an image of a bull lifting a car, suggesting we’re now in “a certain type of market.”
Sign of a certain type of market pic.twitter.com/ZXKQO9MMom— Thomas Lee (@fundstrat) May 8, 2019
Krüger is also highlighting BTC’s overall reaction to recent negative events in the news, highlighting the fact that crypto traders no longer seem to be deterred by the headlines.
— Alex Krüger (@krugermacro) May 8, 2019
Right now, the crypto market is mixed. Bitcoin is up 0.81% at $5,875. Ethereum is down 0.77% at $168.27, and XRP is up 0.50% at $0.2999.
Technical analysts at large are watching Bitcoin’s push to pass $6K and debating whether altcoins can keep up.
Live Bitcoin News – BTC in strong uptrend above $5,700
FXStreet – ETH/USD commences fresh consolidation
Blockonomi – Bearish trend line forming with resistance near $181
Bitcoin Cash, Binance Coin, EOS, Tron, Cardano