The sudden Bitcoin price drop displayed yesterday caught many with surprise especially those who are new into the crypto space. Newbie’s expectations for Bitcoin are rife due to the noteworthy halving, but either way Bitcoin fractal goes, oldies remain optimistic about the future growth of the leading digital asset.
The cofounder and partner at Morgan Creek Digital, Jason Williams, has just displayed his level of experience and longevity in the market as a trader and investors. The cofounder of the investment firm seems unperturbed by the recent pull back witnessed after Bitcoin reached $10,000 on May 9, 2020.
While the 15% crash in about 7 minute gave critics the chance to knock Bitcoin and his followers, Williams confidently stated that he’s still buying Bitcoin, referring to the present state of the cryptocurrency as dip.
Williams said be bought “this dip.”
Williams, who is an angel investor at RTP Capital Associate, displayed the BTC he just bought. As illustrated, Williams bought 10 BTC for about $82,229 today, May 10, at around 00:40 UTC.
The transaction was executed at the time Bitcoin value was around $8,700.
Bitcoin May Reach $6,800
Williams further illustrated that he would not be surprise if the cryptocurrency drops further, and this won’t deter him from investing more in the digital currency.
While suggesting that Bitcoin may go as low as reaching $6,800 despite the halving event, he said he would continue to invest in the cryptocurrency if it reaches that low.
I bought this dip. I am buying all the way down to $6800.
— Jason A. Williams (@JWilliamsFstmed) May 10, 2020
The Morgan Creek partner had on several occasions stated that he’ll continue to Hodl Bitcoin, signaling the perception that Bitcoin will sooner or later surge.
Bitcoin Price Stabilizes Despite Liquidation of $1.22 Billion
Not less than $1.22 billion Bitcoin was been liquidated from an exchange yesterday, CryptoDiffer reveals.
Following the shocking drop in Bitcoin price, a sum total of $1.22 billion BTC was liquidated from exchanges like Houbi, BitMEX, OKEX, Binance and FTX.
Amount of Liquidations in the past 24 hours by exchanges. In total $1.22 BILLION was liquidated!#BTC #Bitcoin has dropped to $8,117 and now is trading below $8,700. How halving, that will happen in 2 days, will affect $BTC price?
— CryptoDiffer (@CryptoDiffer) May 10, 2020
Despite this action, Bitcoin price has managed to maintain stability around $8,500 to prevent further drop.
At press time, according to CoinMarketCap, a unit of Bitcoin is priced $8,678.