{"id":14913,"date":"2024-03-27T15:16:46","date_gmt":"2024-03-27T15:16:46","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=14913"},"modified":"2024-03-27T15:19:08","modified_gmt":"2024-03-27T15:19:08","slug":"crypto-stock-rally-short-sellers","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2024\/03\/27\/crypto-stock-rally-short-sellers\/","title":{"rendered":"Crypto Stock Rally Leaves Short Sellers Unconvinced High Valuations Will Last"},"content":{"rendered":"

Almost $11 billion has been wagered by short sellers who believe the recent cryptocurrency upsurge in valuation will not last. Even after Bitcoin’s recent rise.\u00a0<\/strong><\/p>\n

A report from the S3 Partners LLC this week confirmed the numbers. 80% of the total short interest is backing against the likes of Coinbase Global Inc. and MicroStrategy Inc.<\/p>\n

Cryptocurrency reached an all-time high which naturally, saw Coinbase and Microstrategy’s stock rise. However, short sellers are still not convinced for the long run.<\/p>\n

Ihor Dusaniwsky, who is the director of predictive analytics at S3 Partners, explained that crypto stock short sellers are confident that the rally will eventually end.<\/p>\n

If and when it does, it will deliver a good value if investors are shortening the crypto stock. However, short sellers aren’t always going to be correct.<\/p>\n

The crypto industry can prove to be volatile and unpredictable. If investors in Bitcoin ride the wave on the way up and don’t sell, short sellers could entertain trouble.<\/p>\n

Crypto Stock Rally<\/h2>\n

The recent cryptocurrency stock rally has proven to be an exciting time in the industry. Bitcoin’s value surged past $70,000 on Monday (March 25) during U.S. trading hours. BTC gained more than 7% in 24 hours.<\/p>\n

Ethereum’s ether was up 6% in the same time frame. Tokens for major layer-1 blockchains such as Solana and Avalanche increased by more than 10% as well.<\/p>\n

Overall, nearly all digital assets are in the green with the crypto rally likely to continue for the foreseeable future. Bitcoin could now target a new all-time high.<\/p>\n

A figure of $83,000 is being touted by industry experts. Historically, Bitcoin generally performs well during U.S. election years – which 2024 is.<\/p>\n

In the past, Bitcoin has advanced 100%-200% so this year certainly offers plenty of potential and promise. Founder of 10x, Markus Thielen, believes that a price of $102,000 is not beyond the realms of possibility.<\/p>\n

Read Next<\/strong>: The 15\u00a0Best Bitcoin Gambling Sites 2024<\/a>\u00a0With Crypto Gambling Bonuses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Almost $11 billion has been wagered by short sellers who believe the recent cryptocurrency upsurge in valuation will not last. Even after Bitcoin’s recent rise.\u00a0 A report from the S3 Partners LLC this week confirmed the numbers. 80% of the total short interest is backing against the likes of Coinbase Global Inc. and MicroStrategy Inc. … <\/p>\n","protected":false},"author":205,"featured_media":6866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[5],"tags":[],"acf":[],"yoast_head":"\nCrypto Stock Rally: Short Sellers Unconvinced Boom Will Last<\/title>\n<meta name=\"description\" content=\"Crypto Stock Rally: Almost $11 billion has been wagered by short sellers who believe the recent crypto upsurge in valuation will not last\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bitcoincasinos.com\/blog\/2024\/03\/27\/crypto-stock-rally-short-sellers\/\" \/>\n<meta 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