The fall of bitcoin, which began in early 2018, will continue in the near future, says Wall Street analyst and co-founder of Fundstrat Global Advisors Tom Lee. According to him, the coin lost 60% of the price after the historic record in the region of $ 20,000, and continues to show signs of a drop to $ 5873, Bloomberg reports.
As Lee noted, the news about strengthening regulation, as well as the decision of Facebook and Google to ban advertising of crypto-currencies and ICOs significantly affect the digital assets market.
When sentiment is this weak, the market is increasingly ’fire, ready, aim’ - meaning, any headline today is likely to trigger selling.
Wall Street analyst; co-founder, Fundstrat Global Advisors
The report notes that the price of bitcoin almost doubled after falling below $ 6,000 in January, but could not overcome the $ 12,000 mark. In addition, over the past eight days, bitcoin first broke the support level at $ 9325, and this Wednesday - and the level of $ 8,370. The next two levels of support - $ 7535 and February $ 5873, the report says.