Dutch Lawmaker Expects Dogecoin (DOGE) and Shiba Inu (SHIB) to Rise

Dutch Lawmaker Expects Dogecoin (DOGE) and Shiba Inu (SHIB) to Rise

A previous member of the Dutch House of Representatives, Zihni Özdil, has actually revealed his bullish view about 2 of the most popular meme coins, Dogecoin and Shiba Inu.

DOGE and SHIB charts form bull flag pattern

Özdil released his viewpoint on Twitter where he specified his belief that the 2 meme coins have actually formed a “bull flag pattern.”

A bull flag pattern, according to ThinkMarket, is “a continuation chart pattern that facilitates an extension of the uptrend. The price action consolidates within the two parallel trend lines in the opposite direction of the uptrend, before breaking out and continuing the uptrend.”

To put it in basic terms, a bull flag pattern, normally, tends to precede an upward cost motion of a property after a duration of cost combination.

The erstwhile Dutch legislator went on to encourage his fans to stay away from crypto financial investments if there is a walking in rates of interest while prompting them to purchase “blue-chip stocks” rather.

Zihni Özdil states “Bitcoin is also Shitcoin”

In action to among the many responses his tweet drew, Zihni Özdil, made an unexpected declaration as he stated that Bitcoin, the flagship digital possession, is likewise a shitcoin.

To safeguard his position, Özdil composed that crypto possessions along with the stock market depend upon “what people expect something to be worth, not what something is actually worth.”

His retort would come as a surprise to numerous as financiers tend to purchase Bitcoin due to the fact that they think that the possession has a feasible usage case as a hedge versus inflation.

His view would likewise oppose the position held by leading United States banks like Goldman Sachs and Morgan Stanley who have actually launched reports backing the coin as a feasible inflation hedge and even reaching acquiring an indirect direct exposure to the crypto coin.

Interestingly, Özdil prides himself as a crypto millionaire in a current interview where he exposed that his prompt financial investments in Ethereum and DOGE assisted him get a rental property on a concealed tropical island.

This post was initially published on FX Empire


Source link .

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Want To Stay Updated On the Latest Crypto News? Get the all the important news in Crypto, NFTs & all things Metaverse Instantly! No Yes

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.