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Barry Silbert Says He's Buying Bitcoin

Fri, 06/17/2022 - 19:14
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Alex Dovbnya
Digital Currency Group CEO Barry Silbert believes that Bitcoin has bottomed
Barry Silbert Says He's Buying Bitcoin
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Digital Currency Group CEO Barry Silbert has lifted the spirits of cryptocurrency bulls by announcing that he’s buying Bitcoin in a recent tweet.

Silbert believes that the market has already reached “max pain.”

The crypto mogul has echoed MicroStrategy CEO Michael Saylor, who recently doubled down on his bullishness in spite of steep losses.  

On Wednesday, the crypto fear & greed index, which is updated daily by, recorded a value of 7, plunging deeper into the “extreme greed” territory.

As reported by U.Today, former BitMex CEO Arthur Hayes warned cryptocurrency investors about “a wild ride to the downside” in a recent blog post. Hayes warned that the upcoming weekend would be critical for the market amid a tug-of-war between bulls and bears.

Earlier today, Bitcoin slipped to an intraday low of $20,530, with bears trying hard to break below the pivotal $20,000 support.

"Black Swan" Author Dismantles Key Bitcoin Narrative
As reported by U.Today, Galaxy Digital CEO Mike Novogratz predicted that it would take a while for Bitcoin to fully recover from the recent drop.

The world’s largest cryptocurrency has shed more than 70% of its value since November.

Concerns about the U.S. Federal Reserve’s extremely hawkish monetary policy continue to exert pressure on Bitcoin. The central bank is “acutely focused” on fighting inflation.

Novogratz has repeatedly stated that a bullish turnaround could potentially happen if the Federal Reserve stops hiking interest rates.

Veteran chartist Peter Brandt recently tweeted that Bitcoin could see a relief rally if bears were to finally test the iron-clad support level.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at