PANews reported on November 16th that, according to market sources, Vida, founder of Equation News, posted on his personal channel that he has increased his holdings of BTC as a long-term investment and a small-cap meme coin for short-term speculation over the next few months. Vida stated that he is currently bullish on the crypto market in the coming months because:
- US stocks won't fall too drastically. The current drop in the crypto market is an overreaction to the panic.
- BTC is currently supported by the 1-week Supertrend indicator, which is probably the most effective support level in this bull market.
- The altcoin market is currently experiencing excessive panic, and buying during periods of extreme panic generally yields higher success rates.
