A massive capitulation could be ahead for bitcoin (BTC) if some analysts are to be believed. But according to others, it’s just a matter of time before money printers are turned back on around the world and BTC rises in response.
Speaking in an interview with Barron’s earlier this week, Craig Erlam, Senior Market Analyst at Oanda, said that the lows that were seen in bitcoin around mid-June this year may not hold. The price lows are “really being put to the test as risk aversion sweeps through the markets once more,” Erlam said.
He added that any break of the lows from this summer could become “really damaging” for the bitcoin market. “Considering the outlook for risk appetite in the near term, it’s not looking good,” he said.
Others, including AvaTrade’s Chief Market Analyst Naeem Aslam, warned about a narrowing of bitcoin’s daily trading range, saying this means that more volatility is in the cards for the number one cryptocurrency.
“This is giving us an indication that a massive...
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