Analysts Argue Over When Bitcoin Will Stop Falling

Bitcoin is continuing its price falls, and many analysts find themselves disagreeing over whether the currency will bottom out soon.

Bitcoin: When Will the Drops Cease?

Over the past two weeks, the world’s leading cryptocurrency has lost more than $2,000 in value. During the early portion of November, bitcoin was trading for well over $9,000 following positive blockchain comments from Chinese president Xi Jinping and Bakkt’s sudden surge in business.

However, from there, the currency has seemingly lost all its recent gains and has dropped to about $7,100 at press time. This marks a massive drop in a relatively short period, and many analysts are fighting back and forth regarding where the line will get drawn.

Tim Enneking – the managing director of Digital Capital Management – has commented:

We don’t see $6.5K as the bottom, although it’s the first strong candidate for that title.

He further explained that he predicts bitcoin will ultimately fall below $6,000, then spike back…