A well-known trader named Henrik Zeberg recently said on Twitter that market sceptics who think every decline in the market is a disaster are crazy. He calls this conduct “The Wall of Worry.” Zeberg provided a chart of the NASDAQ 100 stock index and claimed that it does not show any signs of being bearish. He, on the other hand, thinks that the current slump offers a chance to strengthen long holdings.
The trader earlier voiced the same viewpoint towards Bitcoin. Zeberg tweeted that the recent one-week 9% loss in BTC was an opportunity to buy the downside since he has an optimistic outlook for the cryptocurrency in the medium term and anticipates a rally during the summer. A likely short-term dip before the rally starts, with a potential retest of the $24,000 per BTC region if the $26,500 mark is breached, was also mentioned by him.
The BTC price was unable to reach the lower limits set by Zeberg, and cryptocurrency quotes showed an increase of 6% in less than 24 hours. At the time of writing, Bitcoin is quoted at $28,800, which is above the March candle’s closing price and suggests that it may continue its ascent.
Zeberg sees the recent dip in the NASDAQ 100 and BTC as a chance to boost their long holdings because he thinks bears who mistakenly view market declines as crashes are miscalculating.
