29 Nov Asian Chief of FX Trading Firm Predicts Bitcoin Price Fall to $2500
[ad_1]
CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here.
The Asia-Pacific Head of Trading at foreign exchange brokerage Oanda has predicted that bitcoin price will fall as low as $2,500, claiming the behavior of the asset over the past few months has not demonstrated to investors that a bottom is in.
Speaking on Bloomberg Markets: Asia, Stephen Innes stated that despite the pronouncements of “soothsayers”, the current situation remains a decidedly negative one for investors, who will consequently continue to sell or avoid buying bitcoin.
“Falling Knife”
Responding to a question about how low bitcoin will fall before bottoming, Innes remarked that for a variety of reasons, cryptocurrency remains an unattractive buy in the near term. The key factor behind this according to him is the atmosphere of uncertainty about where the market is headed as bitcoin continues to its protracted…
[ad_2]
Source link