According to Robert Sluymer, member and analyst of Fundstrat Global Advisors, the coming days could be key to breaking the downtrend that Bitcoin has presented in recent weeks.
According to Sluymer, Bitcoin will be approaching critical levels in the coming days, although it has not yet managed to complete the bullish rally expected since May, indicating that the long-term price of the cryptocurrency will face US $ 9500 as next important level.
He also pointed out that this would be the key challenge to finally break the downward trend, indicating that for any market or currency it needs first to get its fund (support) to be able to reverse the trend in a positive way, and that in this sense; Bitcoin would have already taken the first step in the right direction.
On the other hand, many analysts; including Tom Lee, also an analyst member of Fundstrat Global Advisors, maintains his prediction that Bitcoin will reach US $ 25,000 by the end of 2018, even though the cryptocurrency has not been able to maintain its historical highs of last year.
At the time of this note, the price of Bitcoin would be oscillating around US $ 7600, a value close to 0.5% lower in the last 24 hours.
The fact that the prices of cryptocurrencies are so low I have something depressed, however I do not lose faith that there will come a moment of glory for Bitcoin, which will benefit the rise of all the crypto that make up the ecosystem.
