Bonk Guy: Altcoins remain relatively resilient as Bitcoin declines, bullish on the market outlook over the coming weeks to months
BIBIBI
AT A GLANCE
The trader said altcoins are relatively BTC resilient and is bullish on the market outlook over the coming weeks to months.
Article
Bonk Guy: Altcoins remain relatively resilient as Bitcoin declines, bullish on the market outlook over the coming weeks to months
BlockBeats reports that October 30, well-known trader Bonk Guy, posted that although BTC fell from 79,000 USD to 77,000 USD, many altcoins also declined, but remained relatively resilient compared with BTC.
He believes that Binance appears to have bought back most of the stolen tokens, and that approximately 6300000000 USD of the stolen assets, approximately 3000000000 USD has been frozen. He expects the frozen assets to be returned, and a considerable portion of the remaining stolen assets may also be recovered over time.
Regarding the market outlook, Unipcs believes that BTC may still briefly dip to lower levels to form a local bottom, but he is bullish on the market outlook over the coming weeks to months. He judged that most of the correction in altcoins may have already occurred and believes that going long on altcoins from current levels and buying in batches during possible subsequent pullbacks offers better odds.
Original link https://m.theblockbeats.info/flash/374724
Key points
01
BlockBeats reported that October 30, Bonk Guy posted that BTC fell from 79,000 USD to 77,000 USD; many altcoins remained relatively resilient during this period.
02
The article stated that approximately 6300000000 USD of the stolen assets, approximately 3000000000 USD has been frozen; the frozen assets are expected to be returned, and some of the remaining assets may be recovered.
03
The article stated that Unipcs believes BTC may briefly dip and judged that most of the altcoin correction may already have occurred.
04
The article recommended going long on altcoins from current levels and buying in batches during subsequent pullbacks.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a trader's reported view on market trends and the handling of stolen assets and does not constitute independently verified information.
Why it matters to readers
If altcoins continue to remain relatively resilient, this may indicate that short-term market performance differs from BTC; however, the article's price projections and progress in handling the assets remain uncertain.
Going long means betting on a price increase. Buying in batches means investing funds in several installments to reduce the impact of a one-time purchase, but it cannot eliminate the risk of losses.
Risks and unknowns
The article mentions both Bonk Guy and Unipcs, and it cannot be confirmed whether they are the same person.
The scale of the frozen and potentially recoverable assets has not been independently verified.
BTC It has not been confirmed whether the price will dip and form a local bottom.
Whether altcoins will continue to remain relatively BTC resilient is uncertain.
Related Developments
Loading event timeline…
Related concepts
BTC
The abbreviation commonly used for Bitcoin when referring to it as a digital currency.
