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Influencer sells two Ferraris for $2.5 million to buy Bitcoin dip
He said he plans to add bitcoin around the 200-week moving average using multiple limit orders, while warning against leveraged positions that could be forced out by price drops.
A crypto influencer known online as "The Moon" said he sold two Ferraris worth a total of $2.5 million to buy bitcoin during what he described as a dip.
In remarks covered by Yahoo Finance, Carl Runefelt said bitcoin is moving into what he called the "most reliable" signal in the cycle, pointing to the cryptocurrency’s 200-week moving average as a long-term reference point.
Runefelt said he has bought in stages by placing multiple limit orders around the support area to build an average entry, rather than taking a single large position at once.
He also warned that highly leveraged bitcoin positions can be risky around long-term indicators, because a sharp drop can trigger stop-loss selling, especially if the price slips below the 200-week moving average before a potential rebound.
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