Experts doesn’t advise buying Bitcoins after fall
Currency strategists BK Asset Management believe that after the latest Bitcoin’s price fall many investors mistakenly saw the opportunity to invest some more money.
Professional traders don’t rush to buy Bitcoin at this situation and recommend others to do the same. Even long-time supporters of this cryptocurrency are sure that the decline will continue up to $8,000.
Experts of Asset Management also guess that the current Bitcoin’s price decrease may continue during the next week and isn’t going to participate in trading.
This year Bitcoin has attracted considerable attention of investors, however, its price’s fall in several recent days indicate an increase in volatility. Many investors closed their orders and transferred their assets to traditional markets.
According to the experts, reliable support line for Bitcoin’s price is formed at about $10,000 where it was being traded for a long time before an uptrend. They note that investing in Bitcoin at a minimum looks like trying to catch a falling knife.
The opposite opinion is shared by the founder and chief analyst of Fundstrat Global Advisors Tom Lee, who took advantage of the recent decrease in the price of Bitcoin to replenish his cryptocurrency portfolio.
He said:
"We are buying bitcoins on this rollback. During the last month the fundamental value of bitcoin has increased due to the growth in the number of new registered purses, which explains the growth of our short-term price forecast.”
In addition he raised his forecast for Bitcoin’s price in mid-2018 from $11,500 to $20,000.
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Honey Badger does not care about 'experts'.
What will this guy say when Bitcoin price sails beyond $20k quickly: eat his Hat (or a not_to_be_named_body_part)?
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