Cryptocurrency analyst and BlockTV reporter Joe Saz believes that after the elimination of short positions on Bitcoin by $ 100 million, the growth of the first cryptocurrency can not be stopped.
"I think that this can keep going. There's nothing stopping it. I don't want to go too far into the clouds here, but there might have even been $100 million plus dollars in liquidations overnight…
I saw a lot of $10 million in short liquidations. So what does that mean? It means a lot of people were betting that we were headed down and they got completely smashed in the face. So I don't recommend to enter any short or long positions," the analyst emphasized.
"If you're going to trade, be defensive, trade with small amounts if you're shorting or longing. Or if you're spot trading then at least whatever you'll buy you'll keep. You won't get liquidated. So maybe you can be a little more risky there. I won't be considering some more buys and let this run go until it's completely out of steam,"he also added.
Note that according to CEO of Jeremy Allaire, Bitcoin will reach $ 10,000 in the coming days. In addition, analysts recently discovered that a "bullish cross" has reappeared on the Bitcoin chart, this time already three days old, signaling the potential of a new wave of growth.