Bitcoin has reached its all time low now at 7850 USD. This is the spot the bulls are waiting for!
Once they get into the market again, Bitcoin could reach 9-10K USD and Ethereum would reach 800-900 USD this weekend!
Bitcoin price is continuing with its downtrend after it was unable to break past the resistance level at $8,600. The slide started during the Asian trading hours on Monday failed to find support at $8,500 and $8,400. Moreover, Bitcoin price has today rejected the support zone at $8,300, besides it has broken below $8,200 at the time of writing.
Tom Lee, founder of Frudstrat recently owned the fact that he was wrong about his Bitcoin price prediction due to the just concluded Consensus conference. While on Fast Money segment at CNBC, he partially put the blame on why the rally failed to materials on the rising sentiment in the previous week in that clarity for regulations will take longer. When asked if he believed in the predictions he made earlier, Tom Lee said:
"We have to keep in mind that Bitcoin at $8,000 and Bitcoin, let's say we think it can reach $25,000, it does not require Bitcoin to go up everyday till the end of the year. Remember, the ten best days account for all the return of Bitcoin. If you didn't own Bitcoin for ten days each year, you lost 25% a year since 2010.”
This is what you can't afford to miss!
0 Comments