Could Bitcoin Fall To $4,000 In The Coming Weeks?

August 11, 2018

 

Bitcoin prices have repeatedly suffered weakness over the last several months, and recently, a Bloomberg analyst predicted that the digital currency could fall to as little as $4,000.

"Bitcoin is in dump mode, following the pump run-up on the potential for a U.S. ETF," Bloomberg Intelligence analyst Mike McGlone stated during a recent interview.

"It may not subside until revisiting good support near $4,000 -- last year’s mean."

This possibility could very well materialize, according to a handful of market analysts.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

"Bitcoin has been trading in a very stable range over the last few months with buyers stepping in just above the $5,000 handle and on the top, we have the 200 day moving average acting as a perfect point of resistance," stated Mati Greenspan, senior market analyst for social trading platform eToro. 

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