However, some indicators point to a soon rebound, while the institutional investors keep holding and buying the dip.
MicroStrategy, one of the biggest institutional investors of Bitcoin, just decided to buy the dip. A bit contrary to the bullish sentiment by MicroStrategy, Elon Musk answered a tweet by CryptoWhale hinting that Tesla could sell its billionaire bitcoin holdings.
Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings. Whale CryptoWhale May 16, To clarify speculation, Tesla has not sold any Bitcoin - Elon Musk elonmusk May 17, At the same time, the relative strength index RSIa technical indicator for market analysis, might be pointing to the end of the bearish trend for Bitcoin.
This is probably thanks to its last update, which would add multi-asset support, and the possibility to import ERC tokens from Ethereum.
The reasons behind this increase might have to do something with the legal victories that XRP has been gathering. Ripple also won the case against Tetragon, one of its former investors.
In the meantime, the XRP holders are trying to intervene in the case with pieces of evidence, and the SEC is trying to prevent them to do so. You can do it în siguranță pe Alfacash!
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