BTCUSD: Pump Influenced by Crypto Super Bowl Advertisement Rumor
What is happening here you might ask? Enormous amounts of money have been rumored to be put into crypto advertisements for the Super Bowl.
In my opinion, this is going to end badly after or during the day of the Super Bowl. A lot of the time, markets will be bought into when huge news is going mainstream, then sell off when the news actually happens.
We actually saw this when Elon Musk appeared on Saturday Night Live. Bitcoin, most notably Dogecoin, had a massive upswing until the actual day the world richest man went on the show. This was of course followed by a massive sell-off in the markets by quite a substantial margin.
Be careful traders, this one could be nasty if this indeed is a false break due to advertising of the Super Bowl.
In my opinion, this is going to end badly after or during the day of the Super Bowl. A lot of the time, markets will be bought into when huge news is going mainstream, then sell off when the news actually happens.
We actually saw this when Elon Musk appeared on Saturday Night Live. Bitcoin, most notably Dogecoin, had a massive upswing until the actual day the world richest man went on the show. This was of course followed by a massive sell-off in the markets by quite a substantial margin.
Be careful traders, this one could be nasty if this indeed is a false break due to advertising of the Super Bowl.
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