Ten experts debate bitcoin's recent declines and the future of cryptocurrency
Thomas Catenacci |
Bitcoin's price was above $8,000 at the end of July. Now, in the middle of August, the cryptocurrency is down to around $6,500.
"What you're seeing now is a bit of panic selling" Brian Kelly said on CNBC's "Power Lunch" on Tuesday. "To me, it's one of the better entry points that we've had in a long time."
Bullish experts liken bitcoin to early Internet companies like Intel or Microsoft. These companies took a while to find their footing before having success. Bearish experts, on the other hand, fear bitcoin and other cryptocurrencies are part of a speculative bubble.