Insider: bitcoin (Bitcoin) to $3000 to the bottom

In November 23rd, American venture investment company Genesis Trading CEO Michael Moro (Michael Moro) on CNBC (CNBC) “black Friday” (Black Friday) interview program, expressed his bitcoin (Bitcoin, BTC) and password asset market situation view.

As a digital currency group (Digital Currency Group) CEO of a subsidiary, the Moro offered his internal expertise to investors. He explained that bitcoin last divestment action (began last year at the end of December) does not reduce, in other words, is cruel. Subsequently, he drew attention to 5800 parties to $5900 support level. BTC over the past year has won three times the level of support, but in the last week of bankruptcy. He added that although the institutional investors to buy in the OTC market, but the retail investors on the market this illiquidity constitutes a substantial selling pressure. As one of the most important OTC market shows the platform operator, said the head of trading Genesis, most of the beginning of 2018 to mid selling are made in this field to novice traders, during which many people in 2017’s bull market be struck dumb to buy the first bitcoin trading company own. He added that this particular group of investors seeking to liquidate its holdings of stocks, only to lock in profits or losses to a minimum.

However, morrow said, traders in his company, and even those in 2016 years to buy bitcoin traders, most of the coins. Of course, this shows that there is still a group of diehard followers, including his own, with piles of faith in this innovation. He explained: Therefore, if you have that kind of (long-term) perspective, I believe that institutional investors ultimately not only because they focus on the three to five years after that, they really care about the price of bitcoin in 2018 end point where.

Although Moro seems to be the faithful block chain technology and encryption of assets, but he did not believe that the short-term outlook for BTC 100%. More specifically, he told the CNBC audience, the market has not yet found the real bottom encryption, and added that before the $3000 level and flat bottom. When it comes to the reasons, Moro mentioned the nuances of the price, he added, although the 4000 dollar has been strong, but at about $3 price on little resistance.

Translation: Kunming plus

Source: ethereumworldnews

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