Episode 7 of Cointelegraph's Crypto Trading Secrets podcast includes opinions from crypto trader Zoran Kole on Bitcoin's 2023 price action and more.
Paxos wholly owns and oversees BUSD. Kole, however, thinks 2023’s price action so far may be the result of prolonged price suppression and people’s desire to gain back their 2022 losses:
“To phrase it more simply, in 2023, I think the allure of making it back in one trade is kind of the reason that prices have propelled up since the beginning of the year.” However, Kole doesn’t exactly think that rationale will remain in play for the whole year. He explained: “I do expect a lot of range-bound behavior to occur. So, all the buyers that were able to buy $15,000, $16,000, $17,000 are probably going to look to distribute somewhere in the upper $20,000s, lower $30,000s. So, I do think we’re going to see quite a bit of chop going into the end of the year.”
Kole also answered several other questions during the episode, including giving his thoughts on potential future cycles for BTC.
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