
No results matched your search
Bitcoin (BTC) prices might fall to a level not experienced since May 2017. Bloomberg in-house analyst Mike McGlone predicts BTC might bomb to $1,500, considerably lower than the expectations of most traders.
“Bitcoin is caught in a strong selling trend,” said the analysis. “[This trend] is its most pronounced since the sell-off it underwent mid-year, when the price tumbled from about $9,300 in May to around $6,600 in July, according to the Directional Movement Index. If that plunge is an indicator of how things might play out, then Bitcoin could be in for a continued rout.”
Bitcoin’s bearish trend began earlier last month, with prices dropping nearly $2,100 over the course of a week. The plunge comes as a culmination of a difficult year for the crypto market. Although BTC the world’s first crypto coin stabilized during last week, the selling resumed yesterday, with prices dropping an additional $200, down to $4,000.
Although BTC has managed to ...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.