Most analysts and investors viewed the recent reaction of Bitcoin price to the Bitfinex/Tether controversy as an indication of improving fundamental strength. According to one analyst, it may be too early to celebrate yet as Bitcoin price is likely to drop into the $4,000 region before gaining any significant support that will allow it to continue with the momentum of growth.
Tether/Bitfinex ControversyTraders and investors are expected to be ready for this bearish possibility, but analysts have pointed to a long-term trend line that demonstrates how Bitcoin price is expected to grow in the future. ...
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