Lowest level in the last six months. There are analysts who see the new numbers as a bad sign for the cryptocurrency.
The week did not go (at all) well for investors in cryptocurrencies, particularly for those who invest or have invested in bitcoin.
The best-known cryptocurrency – and the largest on the market – fell below the “psychological” mark of 100 thousand dollars. It is the lowest value over the last six months, since May it had not reached this point.
And, remember, the context of May was very specific: still the “waves” of tariffs, of the trade war announced by Donald Trump, president of the USA.
There is an obvious crisis of confidence. That intensifies, warns the . The analyst Timo Emden sees Bitcoin’s new drop below the $1,000 mark as a bad sign.
The magazine adds that bitcoin’s prolonged fall this week “scared the market”and also reinforced speculation about a possible curfew cycle of the famous cryptocurrency.
But there are experts who are not pessimistic about the matter.
Ki Young Ju, from CryptoQuant,: “Those who entered the bitcoin market 6 or 12 months ago have an average investment price close to 94 thousand dollars. I don’t think the down cycle is confirmed unless we lose that level. I prefer to wait rather than jump to conclusions.”
As long as there is a capital flow – and there is, there continues to be investment – it is not a downward cycle, continued the expert.
ETFs?
Another expert, Chris Kuiperhas another perspective: are the oldest investors that are causing this slow, gradual and steady decline.
There is a “visible purchasing movement” in the traditional market by companies and investors.
Kuiper admitted that even clients of his firm, Fidelity, who have been investing in bitcoin for the longest time, have reported a “tiredness” in relation to this cryptocurrency. I.e, prefer to try ETFs.
There is a risk that this evident sales movement will create widespread pessimism; especially taking into account the current global economic uncertainty. And when a snowball appears…
