Miller Tabak Managing Director and Equity Strategist Matt Maley answered questions from Brian Sozzi to discuss Bitcoin (BTC) collapse, the possibility of a January pullback, the Fed and the 2022 crypto outlook. Here are the descriptions…
Matt Maley shares critical support of Bitcoin for the cryptocurrency market
One of Brian Sozzi’s questions was about getting Maley’s opinion on your right of correction. Miller Tabak General Manager answered this question as follows:
Bitcoin is testing the 200-day moving average. If it falls below that, we may have more problems. I think institutional investors are selling and planning beyond the beginning of the year.
Famous Strategist thinks institutions will return to Bitcoin in January
Sozzi’s second question was about ascension. Matt joined Sozzi on this issue and said that individual investors are influential:
Individuals are a little distant right now because they are weaker. Institutional players care about being big winners and having big assets. I think the new year is a liquidity plan. Next year we will have less liquidity. After the first half of the year, we may experience a surprising rally as institutional players return to Bitcoin and individual investors follow them.
The crypto market can survive a bad January, according to analyst
The next question was about the timing of the fix. The expert details what month it is for the fix and why it will be triggered:
Starting from the first half. We haven’t had a bad January in that area since 2016, 2015. January has generally been a good year. But I think it happened in the middle of the last decade, several years in a row, that the market hit in January, and twice it actually got hit pretty well. So it’s out of the question.
Matt Maley continues with his concerns:
I’m much less worried about Omicron than the Fed. Now that the Fed is tightening and getting more aggressive with its tightening policy, people should be a little more careful. It doesn’t mean we’re going to crash. That doesn’t mean we’re going to have a bad bear market, but I think it will cause some problems next year.