RATE Group | Bitcoin Dropping Under High $8,000s Now “Highly Unlikely”: Here’s Why
58534
post-template-default,single,single-post,postid-58534,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Dropping Under High $8,000s Now “Highly Unlikely”: Here’s Why

18 Aug Bitcoin Dropping Under High $8,000s Now “Highly Unlikely”: Here’s Why

Posted at 11:37h in Bitcoin News by

[ad_1]

Despite the fact that Bakkt finalized a launch date for its much-ballyhooed Bitcoin futures, the cryptocurrency market has failed to rally.

Per the time of writing this, the leading crypto asset is currently trading for $10,150 a piece, down 2% in the past 24 hours. Altcoins have followed suit, posting near-identical losses as bulls have failed to take control of the cryptocurrency wheel.

Related Reading: Will Growing Interest from China Propel Bitcoin’s Price Higher?

As such, some analysts have kept their bearish tone, calling for a potential further unraveling of the Bitcoin price. But, one prominent analyst is making the case that a dramatic move lower is highly unlikely.

Bitcoin Unlikely to Fall Under $8,000s 

Over the past week, Bitcoin hasn’t had the best of times. According to Coin360, the cryptocurrency has shed a shocking 12%, which is a loss that comes in the midst of what many analysts are calling the early stages of a bull market.

Peter Schiff, a prominent gold bug and…

[ad_2]

Source link

Tags:
, , , , ,