Bitcoin

David Vance

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<p>The post <a href="https://coinpedia.org/news/top-influencers-bold-bitcoin-strategy-revealed-10m-move-if-prices-drop-below-50k/" rel="noopener noreferrer nofollow">Top Influencer’s Bold Bitcoin Strategy Revealed: $10M Move if Prices Drop Below $50K!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Entrepreneur and investment influencer David Portnoy, identified as ‘Dave Portnoy’ in X, has unveiled his strategy to buy a substantial amount of Bitcoin, potentially up to $10 million, should the price drop significantly. In a video shared on his X account, Portnoy disclosed his target price for making a big move into Bitcoin.&nbsp;&nbsp;</p>
<p><em>Read on to learn what exactly is this investment influencer’s brilliant trading strategy!&nbsp;</em></p>
<h2 class="wp-block-heading" id="h-investment-influencer-portnoy-s-investment-strategy-explained-nbsp">Investment Influencer Portnoy’s Investment Strategy Explained&nbsp;</h2>
<p>Barstool Sports Owner Portnoy, who already holds Bitcoin, indicated that he sees no advantage in buying at the current price of around $60,000 – 61,000. He stated that if Bitcoin’s price falls below $50,000, he plans to invest between $5 million and $10 million using funds from Barstool Sports, which is an American blog and digital media company based in New York City, known for its sports journalism and pop culture content.</p>
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   <p lang="en" dir="ltr">I already personally own <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> but if it dips down into the 40s I’m planning to buy $5-10m of Bitcoin with Barstool money <a href="https://twitter.com/hashtag/DDTG?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DDTG</a> <a href="https://t.co/nkrdPf7y6s" rel="noopener noreferrer nofollow">pic.twitter.com/nkrdPf7y6s</a></p>— Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/stoolpresidente/status/1806681832315928620?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<h2 class="wp-block-heading" id="h-bitcoin-market-trends-and-investor-behaviour-nbsp">Bitcoin Market Trends and Investor Behaviour&nbsp;</h2>
<p>Data from CryptoQuant suggests that ultra-long-term Bitcoin holders are currently selling their assets, anticipating a stronger bull market ahead. According to IntoTheBlock, these long-term holders offloaded nearly $10 billion worth of Bitcoin in May 2024. Although the pace of selling slowed in June, with over 40,000 BTC sold, this activity has contributed to recent market fluctuations.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-movement-an-overview-nbsp">Bitcoin Price Movement: An Overview&nbsp;</h2>
<figure class="wp-block-image"><img decoding="async" width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527.png" alt="" class="wp-image-321065" srcset="https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-1536x864.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/06/29191335/image-527-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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  BTCUSD – TradingView
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<p>Bitcoin has encountered several challenges lately. Despite occasional rebounds, the price has struggled to surpass the $70,000 mark, which it briefly reached in March. Over the past month, Bitcoin has seen a 14% drop in value, falling from $71,000 to around $60,000. As of June 29, 2024, Bitcoin’s price is $60,845. At the beginning of June, it was approximately $67,719, and it peaked at over $71,000 on June 5. However, since then, the price has weakened, showing long red candlesticks on June 7, 11, 13, 18, and 24. This week, the price has fluctuated between $60,000 and $61,800. The 30-day change is -10.1%, the 7-day change is -5.4%, and the 24-hour change is -1.0%.&nbsp;</p>
<p>In conclusion, Portnoy’s plan to buy a significant amount of Bitcoin if its price drops below $50,000 highlights his long-term confidence in the cryptocurrency. This potential investment move could signal a major shift in the market, especially if Bitcoin continues to face downward pressure. As crypto investors like Portnoy prepare for possible dips, the cryptocurrency market remains unpredictable.<br><br><em>Stay tuned to </em><strong><em>Coinpedia </em></strong><em>for the latest updates on the Bitcoin price movements.</em></p>

Top Influencer’s Bold Bitcoin Strategy Revealed: $10M Move if Prices Drop Below $50K!

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