Bitcoin Price Below $10K But Trend Stays Bullish, Says Veteran Trader
William Suberg's original article for cointelegraph.com reduced by 41%
Bitcoin price dropped below $10,000 Aug. 15 as another day of losses sent the largest cryptocurrency back to four figures. Data from Coin360 tracked Bitcoin's decline through Thursday, which followed a previous day's downward momentum.
Bitcoin price had shown signs of a fresh retraction following its latest move above $12,000 on the back of geopolitical uncertainty focused on the United States and China. As those tensions lessened, so Bitcoin began reversing its gains. Adding to those voices Thursday was veteran trader Peter Brandt, who noted that compared to its bullish period from 2015-2017, Bitcoin's performance this year was superior.
Other bullish tones came from Morgan Creek Digital co-founder, Anthony Pompliano, who added that even if it faced 50% price losses, Bitcoin would still have outperformed the S&P 500 in 2019.Altcoins post traditional bloodbath. A look at altcoin markets meanwhile put Bitcoin's comparatively modest losses in perspective.
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Summarised crypto news.