CEO ShapeShift: bear trend is not over, but now is the time to buy Bitcoin
Source:
This month, Bitcoin price once more bounced from the 5800 level dollars, adding confidence to investors. Players of the stock market gradually purchased coins and evidence of the weakness of the bears. However, ShapeShift CEO Erik Voorhees warns that the downtrend is not yet over. About it writes .
theWhen Bitcoin will stop falling
It is too early to relax — a new Bitcoin drain could catch traders at the most inopportune moment.
I don't think that the bear market will end soon, but the market decline has really slowed down. As has happened before, after another bubble and a few months of the downtrend digital assets traded in a horizontal channel.
Voorhees did not rule out that Bitcoin could fall by another 30 percent below — up to 4750 dollars. Most likely, this level will be the last support before the next ballroom.
The cryptocurrency in the range from 5000 to 8000 dollars is a great strategy for long-term investors. A few years later 6700 dollars for one Bitcoin would seem a very lucrative deal. We will remind, the President of Blue Line Futures bill Baruch, too, to accumulate the crypt.
It is Noteworthy that the Voorhees advises now to invest in altcoins. In the long run, most coins are simply in the dust. It is unknown how it will look top 10 Coinmarketcap in a few years, but Bitcoin will still take it in the first place.
However, the expert is not a Bitcoin maximalist. He believes in creating new blockchains is the essence of decentralization.
Digital assets can have many applications, cryptocurrency is the most early and successful application of the blockchain. However, he has much more potential. The idea that Bitcoin will be able to satisfy all applications — naive. In addition, the focus on one coin again leads to centralization.
Now a major event in the life of the stock market is the first on the Bitcoin. It is quite possible that the next important news cryptocurrency will be in the stage of accumulation.
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