Crypto Community Weighs In on Latest Market Purge As Bitcoin Looks to Stay Above $4,000

    Crypto investors have had a disastrous week, things went from bad to worse. After crossing the support level of $5,800 on November 14th, there was no looking back at the falling prices of bitcoin and the entire crypto market as a whole. It even approached the support level at $4,400 but as of now, it feels like that still holds.

    Of course, the mainstream media did not miss this opportunity to bash bitcoin. CNBC Fast Money, infamous for its cryptocurrency-related coverage, went all gun blazing. Anti-crypto Fast Money panelist Pete Najarian said: “there will be more pain ahead.” He followed up by saying that Bitcoin’s ‘speculmania’ is swiftly going to be a far-off thought. According to him, all the speculators have exited the market. Although Najarian was reluctant to give a precise price mark, he thinks that there is no more excitement around crypto. Tim Seymour also has the same views and says that liquidity has dried up around Bitcoin.

    Obviously, Nouriel Roubini, Dr. Doom himself wouldn’t miss the opportunity to gloat about this, as earlier he had labeled bitcoin as a scam, a bubble and everything in between. The Turkish-born economist has been taking shots at HODLers on Twitter:


    Although, clearly, the trend is not in crypto’s favor. As evident from the graph below, we can see that BTC is in the midst of a long-term descending triangle.

    Although many analysts do not echo these sentiments. Nigel Green, founder, and chief executive of U.K. consulting firm deVere group, said the two-day decline is investors don’t want to miss.

    “Savvy investors understand that digital currencies are the future of money and, as such, they will be capitalizing on the lower prices in order to build their portfolios and shore-up their positions,”

    he said.

    He emphasized the fact that crypto skeptics are using this current wave of volatility to knock digital currencies. Whether it is bitcoin, or any of the current generation of coins, or not, cryptocurrencies are here to stay.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    44% Think Bitcoin's in a Bull Market & Alt-Season Will Occur in 2020: Kraken Survey

    In the currently unstable environment where industries are laying off, cryptocurrency exchange Kraken is on a hiring spree as it moves ahead to expand...

    Bitmain Releases Antminer E3 Firmware Update to Keep It Mining ETH Till October

    Mining hardware firm, Bitmain, set to extend the durability of its once “most powerful Ethash miner” from April to October 2020. The mining firm...

    Tether Prints over a Billion USDT in March, Rising Demand or Exchange Run?

    We are about to end March, a month that saw the price of bitcoin hitting $3,850 and ready to end the quarter with over...

    Bitcoin Beating Gold But What will Hold its Value Better in Five Years?

    The price of bitcoin is currently trading in the green by 2.34% as it trades around $6,450. Although down 11.89% YTD and about 34%...

    Lightning Labs New LSAT Protocol Promises To Do Away With Usernames And Passwords

    A statement from Lightning Labs CTO, Olaoluwa Osuntokun, revealed the specs of the Lightning Service Authentication Tokens (LSAT) which is expected to act as...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.