CryptoWatch: Bitcoin’s recent meteoric fall means calls for rallies to $25,000 in 2018 are in jeopardy [MarketWatch]
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Source: MarketWatch
Bitcoin’s recent meteoric fall means calls for rallies to $25,000 in 2018 are in jeopardy Bitcoin prices thus far in mid August are trading around 2018 lows, extending a downtrend that has taken hold of the world’s No. 1 virtual currency since a peak in May, and a tenuous rebound in July, raising doubts about bullish forecast for the virtual currency. A single bitcoin BTCUSD, -3.44% on the Kraken exchange was trading at $6,021.19, off 4.1% on Tuesday. That represents a roughly 60% tumble in bitcoin in the first half of 2018 and a 70% plunge from its peak near $20,000 late in 2017. By comparison, the Dow Jones Industrial Average DJIA, +0.48% has gained 2.3% so far in 2018, while the S&P 500 index SPX, +0.63% is set for a climb of 6.2%. Check out: A snapshot of the markets by MarketWatch Back in June, one of the staunchest and more vocal bitcoin proponents, Tom Lee of Fundstrat Global Advisors, reiterated a prediction that the asset would end the year around $25,000 during a
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