Many recent Bitcoin sellers are likely expecting a downturn and may be turning to social media to sway sentiment in that direction, according to an analyst.
Some traders who are warning about an upcoming Bitcoin correction might be driven more by self-interest than by an unbiased view of the market, according to a Bitcoin analyst.
“If you sold, you really want lower prices,” Bitcoin analyst PlanC said on the Mr. M Podcast published to YouTube on Friday, reiterating that those who’ve recently sold Bitcoin (BTC) may become more vocal on social media, promoting the idea of Bitcoin’s price falling in hopes of seeing the market move in their favor.
“The whole point of you selling is to think that the bear market is coming,” he said. “So you’re going to get on social media,” he added.
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