RATE Group | Prominent Investors See Bitcoin Price Consolidating Before Next Big Move
55160
post-template-default,single,single-post,postid-55160,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
 

Prominent Investors See Bitcoin Price Consolidating Before Next Big Move

21 Jul Prominent Investors See Bitcoin Price Consolidating Before Next Big Move

Posted at 10:54h in Bitcoin News by

[ad_1]

Since July 10, within two weeks, the bitcoin price has declined from over $13,000 to $10,600, by more than 18 percent against the U.S. dollar.

At its lowest point this month, the bitcoin price came close to dipping below the $9,000 level, dropping to as low as $9,080.

Bitcoin, bitcoin price
The bitcoin price has slightly declined after surpassing $11,000 on the day. | Source: ConMarketCap

Although BTC has shown relatively strong recovery throughout the past week, it has struggled to cleanly break out above $11,000, which has acted as a key resistance level for bitcoin throughout July.

Consolidation for bitcoin expected

Michael Novogratz, a billionaire investor and the CEO of Galaxy Digital, said that bitcoin is likely consolidating currently before initiating its next move higher in a statement.

“If BTC goes to $100, it is game over. It won’t. It’s already established itself as a store of value. Stop wasting your time with these tweets and go outside and enjoy the summer. BTC is consolidating before its…

[ad_2]

Source link

Tags:
, , , , , ,