"Bitcoin may fall by another 30%," says Michael Moro

Michael Moro argues that the price of Bitcoin may drop another 30% before finding a bottom.

"We really will not find any resistance between the current levels and $ 3000." - adds the Critter trader to Genesis Trading & Genesis Capital Trading.

"It's really hard to figure out, we have low levels of resistance, we've seen $ 4,000 be tested a couple of days before being shot, but I do not think we'll find a big deal to $ 3,000."

Bitcoin and on Friday continued its losing series, which began in December last year after the release of CME's first futures. The digital currency after its peak to $ 19,000 managed to hold just over $ 17,000, but at the beginning of this year, at least to the south. Now it is traded 75% lower than its peak and we are about $ 4400.

Moro advises not to look for bottom-ups and says long-term investors are much more prepared to catch up and wait for better entry levels.

"This is the fifth or sixth collapse of 75% in Bitcoin's 10-year history, and if we break things through long-term trading, I do not think investors will be interested in where the price will be at the end of the year. five years ahead. "

Read more:

• Bitcoin again over $ 8000, but will buyers retain control
• Crypto enthusiasts with huge expectations for Bitcoin in 2020 – the third halving is in May
• YouTube restored deleted Crypto-content, but not confidence in crypto influencers
• Bitcoin with buy signal just before Christmas
• Ether went into negative territory for the year