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Ultimately, this is a market that I think will continue to be very noisy. And we are, if this particular range holds, we are definitely near the fair value level, essentially in the middle of it. I have been buying the dip for a while in Bitcoin, just building up a position, but really, I don’t think Bitcoin goes anywhere until we get a resolution to the trade war situation and markets feel better about the global economy.
I think we’re just stuck in this range, and it could be very much like last year, when we went sideways for about six months. I’m starting to run out of faith for momentum, but that doesn’t necessarily mean that the market is going to be negative. I just think it’s got a lot to think about and it is, of course, digesting a lot of gains over the last couple of years while we wait for more risk appetite to return to financial markets on the whole.
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