Will BTC Resume Slide?Will BTC Resume Slide?

Bitcoin recently clawed back $8,000, yet the long-term outlook remains bearish with a target near $40,000.

depositphotos_160212668-stock-photo-golden-bitcoin-coin-on-us.jpg

Source: DepositPhotos

I sure hope so. Since July 1st, this thing has reversed about $8,000 of its losses. The big picture is still intact (pointing to much lower values, like in the vicinity of $40,000 this year), but we need to get some more pounding. I’m doing my part. Sustained weakness in Bitcoin (BTC.X) would be very helpful for the “risk-off” zeitgeist.

STOCKS IN THIS ARTICLE

Comments