The fall of Bitcoin is due to several reasons and is of a short-term nature.
This was told by the analyst and co-founder of Fundstrat Global Advisors Tom Lee in the next conversation with CNB, reports Sotsport with a link letknow.news.
He expressed the opinion that the collapse of the markets is a global trend, and the continuing rapid fall in the price of bitcoin is only of short-term nature.
– Now the world markets are very weak. Panic and emotions play a huge role on them, Li shares his thoughts. – Does this mean that bitcoin is down? Not. Yuzkeys still exists. However, in the short term, panic is panic.
Also during the conversation, the analyst mentioned the US Securities and Exchange Commission (SEC), which studies the activities of many projects related to digital tokens. This, he said, also puts significant pressure on the market, creating negative sentiment.
Many experts are convinced that in addition to legal uncertainty and stricter regulation, the recent hardfork Bitcoin Cash had a negative impact on the market, which caused the emergence of two competing chains.
“The hash war between Bitcoin ABC and SV continues to influence the market,” said Brian Kelly, CEO and founder of BKCM. – Both sides apparently sell bitcoin to finance mining. Each seeks to prevail in the opposition.