The Crypto Currency, Bitcoin’s price dropped again last night with the price falling from $6,721 to $6,623. This is a fall of about $98 and it is now glaring that the cryptocurrency might not rise again.
Bill Baruch, President of Blue Line Futures explained to CNBC that the Bitcoin’s “Bottoming process can begin soon”. According to Bill, he said bitcoin’s volatility is depressed and the selling of the cryptocurrency has become exhausted.
Also speaking on the fall, the founder of London Fintech Week, Luis Carranza has responded by telling Express.co.uk that crypto has come a long way in 2018 and there are plenty of reasons to be optimistic.
According to Luis, there are massive spikes and drops which make bitcoin very unpredictable. He said nobody can be sure of the bottom of Bitcoin and we cannot really say it will rise at a certain time.
He said we should be optimistic about the fact that the amount being raised by crypto-financing has seen an exponential growth in 2018 so far.
He argued that the problem bitcoin is facing now is mainly due to regulations and the market maturing with large sums.
The bitcoin game is still dropping and there is no guarantee that it will stop soon.
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