Experts: Bitcoin needs “fuel” for new growth

According to analysts, a sharp drop below $ 7,000 closed before Bitcoin fastest way to new heights. Bitcoin needs a long recovery process before the start of a new bullish trend, according to CNBC.

The growth of Bitcoin will have to be postponed

The expert of Fundstrat Global Advisors Robert Leimer believes the mark of 7777 dollars key to Bitcoin. Only after strong to overcome this last hurdle we can talk about the start of a gradual growth of the cryptocurrency. Bitcoin now trading at two-month low, the capitalization of the coins was fixed at 117 billion dollars.

Bearish trend, which began in may, is still in force. We need a clear reversal signal, in order to be sure of a trend change.

Bitcoin has fallen 50 percent since the beginning of 2018. Executive Director, Nomura Instinet Frank Cappelli believes that the coin should fall to the upper border of the Bollinger Bangs to signal the beginning of a new trend. At the moment it is in the area of 8577 dollars.

CEO of Kimble Charting Solutions ‘ Chris Kimble warned of the need to hold a key level in 6747 dollars. If Bitcoin falls significantly below this level, then we can talk about the next draining for up to two thousand dollars.

Recall the recent sharp decline in the price of the cryptocurrency has previously considered associated with the hacking on the stock exchange Coinrail. Later, the situation seems clearer, the fall of Bitcoin more depends from manipulation in the market.

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