Bitcoin is Bottoming and May Break Out, Experts Say

Bitcoin has previously indeed started rising after hitting the USD 7,000 mark, and Sluymer believes this to be the first step in price recovery.

“Bitcoin is stuck in purgatory,” Melissa Lee of CNBC begins, while Bob Pisani of the New York Stock Exchange says that the current narrow range of around USD 600 is unusual for Bitcoin’s price fluctuations. Bitcoin futures trading volume fell since May, with Asian markets less intimidated than the US ones. The US Securities and Exchange Commission regulatory issues are also considered one of the constraints for cryptocurrency prices recently.