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Analysts suggest: shorting the stocks of a certain encryption trading platform and going long on Bitcoin.
On June 27, according to reports, 10x Research founder Markus Thielen stated on Friday that the stock price of a certain crypto assets trading platform listed on Nasdaq is rapidly approaching an overvaluation threshold. He recommended a paired trading strategy: shorting the platform's stock while going long on Bitcoin.
Markus Thielen stated that the fundamentals of the trading platform, especially the growth in trading volume, have failed to keep pace with the rise in its stock price, which is rapidly approaching overvaluation levels, a typical "tactical reversal" setup.