Crypto Industry News:
Legendary hedge fund manager Paul Tudor Jones has said he will always maintain a "small" exposure to bitcoin. Reason? In his opinion, it is "the only thing" in the world that people cannot change.
Investor Paul Tudor Jones, who started investing in bitcoin in 2017, does not hide that he is a hodler. In a recent interview with CNBC, he said that he always plans to have BTC in his investment portfolio. The reason is that the cryptocurrency supply cannot be changed. He explained that bitcoin "is the only thing that people cannot change in the supply."
"It's a little diversification of my portfolio," he cautioned.
For some hodlers who have been in the market long enough to see BTC near $70,000, the current price - below $30,000 - may seem like a good buy. This is the case of Jones, who does not hide that he considers cryptocurrency an attractive investment asset
Technical Market Outlook:
The ETH/USD pair has bounced from the level of $1,761, but failed to break above the 50 MA on the H4 time frame chart seen at $1,834. Nevertheless, the market still manage to trade above the local trend line support. The intraday technical resistance is seen at $1,885. The momentum is strong and positive, so the temporary outlook for the ETH on the H4 time frame chart is bullish, but the bears are still in charge of the market and the next target for bears is seen at $1,687.
Weekly Pivot Points:
WR3 - $1,913
WR2 - $1,886
WR1 - $1,844
Weekly Pivot - $1,814
WS1 - $1,795
WS2 - $1,764
WS3 - $1,712
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
