biCredit view:Wyoming Senator: Will buy more if bitcoin price drops further

U.S. Senator Cynthia Lummis of Wyoming took advantage of the sharp drop in the price of bitcoin this week to increase her holdings in BTC.

In an interview with Fox on Wednesday, Lummis said she’s excited about bitcoin’s decline, because if the price drops further, she’ll buy more.

Lummis is one of the most vocal advocates of bitcoin in the U.S. Senate. Earlier this year, she launched the Financial Innovation Caucus to educate fellow lawmakers about bitcoin and other cryptocurrencies.

The market has its own rules, and at $60,000 it did not go straight to $100,000, as most people expected. So now, as some say, is it all going to evaporate?

In the history of Bitcoin, an uptrend has never been negative for three consecutive months; On the contrary, a round of adjustment trend, there has been no positive line for 3 months.

The fear index has been below 20 for most of the past month. The market is heavily oversold and there is demand for a rebound.

To sum up, the market into a bear market probability is great, but the bear market will not fall unilaterally. A breakout of MA36 could theoretically lead to a rally, possibly targeting MA144.

“We are focused on the medium to long-term so this volatility is something we are used to,” said Greg King, Osprey Funds CEO during an appearance on Varney & Co.

Bitcoin is “better than gold,” Cuban tweeted on Monday evening. “No worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn’t require an intermediary. Can be fractionalized.”

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