Can Bitcoin hold on to $8,000?

Bitcoin prices are having stormy days. Bitcoin, which fell below $ 8000 yesterday, is trying to hold on at $ 8200 today.

This resilience, according to analysts, shows that Bitcoin has formed significant support around this price level.

Iqbal Gandham, UK manager of social trading platform eToro, said: There is support.”

Charles Hayter, co-founder and CEO of digital money data platform CryptoCompare, also offered a similar perspective as Gandham, stating that Bitcoin has found significant support at $8000.

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Mati Greenspan, senior market analyst at eToro, stated that the digital currency provides a long-term trend line and the strongest support for Bitcoin is at $ 7100.

Another analyst gives a little more insight into the latest situation in Bitcoin. approaching cautiously. Cryptocurrency investor Marius Rupsys said, “There might be some support at $8000 but any price level could break. I’ll sit on the sidelines to see where the price goes.” He said.

On the other hand, Consensus 2018, the world’s largest crypto money and Blockchain event, was claimed to bring the expected revival to the crypto money market, but it was not expected.

In this regard, Blockchain-based logistics Sunny Lu, CEO of VeChain Tech, said, “This week’s losses in Bitcoin could be a result of unmet expectations regarding Consensus 2018.. The quality of the projects and speakers really wasn’t as good as expected. I think people were disappointed.”

Fundstrat’s digital currency analyst, Alex Kern, said: “Many former attendees noted that the panels were more like advertisements than major discussions like they were last year.” he said.

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