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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Pr…

10 Aug Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Pr…

Posted at 22:09h in Bitcoin News by

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Just a few days back we were discussing whether cryptocurrencies have entered a bull phase. Now, after the recent slump in prices, analysts are predicting a huge fall on Bitcoin (BTC).

Bloomberg Intelligence analyst Mike McGlone believes that Bitcoin will plunge to last year’s average level of $4,000.

Jeff deGraaf, head of technical research at Renaissance Macro Research has a more dire warning for the Bitcoin bulls. He said that “once the top is complete”, it may even mean “game-over” for Bitcoin. DeGraff is a highly respected voice in the technical analyst community, hence, his forecast should be kept in mind.

However, it is important to note that technical analysts can quickly…

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