Crypto analyst after bitcoin suffer big losses: This is healthy

Crypto analyst after bitcoin suffer big losses: This is healthy

Image source: Shutterstock / Coinmarketcap

Teodor Stig-Matz

teodor.matz@trijo.co

Crypto personality Tom Lee believes that bitcoin’s losses are healthy after the cryptocurrency had a volatile weekend.

Bitcoin went really well last week. The price of the world’s biggest cryptocurrency even managed to reach $13,000.

Now it seems that the positive trend has turned. After a volatile weekend where the price of bitcoin fell as low as $9,900, the cryptocurrency is now just over $10,000, numbers from Coinmarketcap shows.

The losses come after Donald Trump made a negative statement about bitcoin. The leaked document that shows that the US Congress may ban Facebook’s cryptocurrency libra may also have played a part.

Analyst and crypto personality Tom Lee believes that the drop is good for bitcoin.

“It’s healthy to see [Bitcoin] pullback here”, he writes on Twitter.

Will continue to fall

The crypto analyst who goes by the name of filb filb on social media is not as positive.

“The price action has obviously been very bearish having lost the key low I’ve been watching at 10900. A close below 10580 would mark a new daily low and therefore I’m expecting new lows when that occurs”, he told followers on his Telegram on Sunday, Cointelegraph reports.

Although bitcoin had a bad weekend, it is nothing compared to the altcoins. Ethereum and bitcoin cash has lost around 17 percent of their value. Of the major coins, bitcoin SV lost the most: roughly 21 percent, numbers from Coinmarketcap shows.

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