Industry Players Discuss The Best Crypto Trading Strategy For 2023
It’s Day Two of the Blockchain Economy Summit – the UK’s biggest gathering of crypto companies and blockchain entrepreneurs.
Taking place in the heart of Europe’s financial capital – London, with two days jam-packed with Web3, NFT, cryptocurrency, blockchain and metaverse events.
With more than 3,000 attendees from over 65 countries gathering to join 70 leading companies in dialogue about the future of blockchain and the crypto space – crypto industry insiders revealed their opinions on how best to trade the markets this year.
High-profile algorithmic trading start-up founder Daan de Rover (A.K.A Crypto Rover) walked through market outlook for 2023.
"[We] can see that $25,000 for Bitcoin is really the level to break," said Rover.
"we tested $25,000 and this was the level we couldn't break - now we're re-testing it again - and actually we already fell down back to $23,000 - so $25,000 is the level to break.
"What I don't like about this market right now ... in the short term we can clearly see we're creating a rounded top structure ... we could be likely to see a pull back right now."
But the prominent trader saw reasons to be cheerful on the road ahead.
"If you look above [the resistance level] $25,000 to $29,000 is an extremely low volume range," added Rover.
"So if we break above the $25,000 it could go up to $28,000-$29,000 very quickly but the question really remains can we break above 25k? And where is the market heading towards in terms of inflation? Because that's really a big driver in the market."
Daan also touched on the recent industry narratives that theorise the next bull run could be fuelled by Eastern economies.
"You think there's a bear market until you go to Dubai ... it's like a bull market all the time because
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