Bitcoin Skeptic Doubles Down
Per previous reports from Ethereum World News, Mark Dow, a skilled chartist who heads mainstream finance hedge funds, has long been a skeptic of Bitcoin. In late-2017, he opened a BTC short, closing the profitable position just recently.
Days after he closed his short, he went on to draw a harrowing picture for the cryptocurrency’s chart, noting that if BTC fails to surmount $5,000 or $6,000 in the near future, “even the HODLers need to GTFO.” Dow, who currently manages a family office in Southern California, doubled-down on this cynicism towards Bitcoin in a recent tweet.
Dow remarked that as he held his position open, he saw “the liquidity get worse every time.” He goes on to draw attention to the fact that the CBOE, one of the world’s largest derivatives exchanges, has plans to put its BTC futures contract on the backburner for an undisclosed reason.
Many believe that the American exchange is doing this as a result of waning volume figures, which is…
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