RATE Group | Bitcoin May Dip to $6.8K Without New Coronavirus-Style Event — Trader
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Bitcoin May Dip to $6.8K Without New Coronavirus-Style Event — Trader

08 Feb Bitcoin May Dip to $6.8K Without New Coronavirus-Style Event — Trader

Posted at 10:21h in Bitcoin News by

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Bitcoin (BTC) may have come within 2% of $10,000 this week, but its 40% gains in 2020 are now making traders bearish about the future. 

Speaking to Cointelegraph in a Market discussion on Feb. 7, two trading heavyweights highlighted what they consider to be the increasing potential for Bitcoin to lose value in the short term. 

DiPasquale: BTC benefits from global instability

Alameda Research co-founder Sam Bankman-Fried was undecided on Bitcoin’s trajectory, while Bitbull Capital co-founder Joe DiPasquale identified $6,800 as a bear target for BTC/USD.

“I think if there is continued unrest — if things like coronavirus get worse… prices of gold and oil going up, I can see Bitcoin continuing to increase, and if not, then we could have a slide back to $6,800,” DiPasquale summarized.

The debate came as markets celebrated another week of solid gains for investors in both Bitcoin and altcoins. 

As Cointelegraph reported, opinions remain mixed as to why Bitcoin has appreciated 39%…

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