Bitcoin shorts have reached all-time high as the leading cryptocurrency hits 15-month low. Meanwhile, experts believe it’s just a bump in the long road ahead of Bitcoin and this is the right time to buy while you have it at 82 percent discount.
Bitcoin Gonna get Squeezed
At the time of writing, Bitcoin has been trading at $3,555 with 24 hours gains of 1.36 percent. With a $60 billion market cap, the leading cryptocurrency has been managing the daily trading volume of $6.2 billion. Yesterday, BTC took a drop and fell down to $3,280 level, hitting its 15-month low.
Bitcoin 1-year price chart, Source: Coinmarketcap
According to experts, Bitcoin price is expected to hit even more lows. Bitcoin investors and traders share the similar sentiments as BTC USD shorts hit its all-time high.
Crypto market is in chaos but not everyone is losing the hope and confidence in this nascent technology. As Bitcoin and altcoin trader, The Crypto Monk Tweeted, “At least something is about to reach ATH.”
To this, one enthusiast replied, “This is going to be the most epic bounce squeeze out ever.” While another says, “Obviously when that happens we know what usually comes next…”
Experts Positive AF on Bitcoin Future
Bitcoin is currently down more than 82 percent from its peak in December which according to some is the biggest buy opportunity as shared by trader and investor, Crypto Squeeze,
This Christmas is ideal for giving your friends and families some #Bitcoin.
On a fire sale and it’s 82% off!
By the next Christmas, price is gonna be higher
— Squeeze [When Moon?] (@cryptoSqueeze) December 7, 2018
And crypto trader, Bitcoin dad,
I’ve had a lot of people irl ask me if they should buy $BTC at 10k, 7k, 6k etc… I feel comfortable telling people to start buying some now.
— Bitcoin Dad (@bitcoin_dad) December 7, 2018
Industry experts and enthusiasts are positive as well as CEO of the biggest crypto exchange Binance, Changpeng Zhao said,
“While there are some people who are uncertain about the future of this industry, I’m very certain we’re here to stay.”
Not to forget to menton, Weiss Crypto Ratings supporting Morgan Creek Digital founder Anthony Pompliano’s bet on Bitcoin to outperform the stock market.
Crypto mega-pundit Anthony Pompliano is so #bullish on #bitcoin that he has now bet 1 million actual dollars on his digital asset index fund, Morgan Creek Digital, outperforming the S&P 500 over a ten year period. We would make that bet, too. #SP500 #BTC #altcoins
— Weiss Ratings (@WeissRatings) December 7, 2018
Bitcoin is a survivor and this is just a bump in the long road ahead of the leading cryptocurrency as The Crypto Squeeze said,
“Bitcoin always survive the bear market. Only most of the participants don’t.”
Similar sentiments are shared by James Bevan, the chief investment officer at CCLA Investment Management who recently said,
“I don’t regard this as an existential crisis, I just regard it as a bump in the road and institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems.”
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