The bitcoin price dropped below $ 7,000, reaching its lowest point since mid-July. According to the CoinDesk bitcoin price table (BPI), the price of the digital coin declined to $ 6,933.09.
The recent recovery
From $ 5,785.43 in June, bitcoin managed to recover quickly and reach $ 8,479.33 on July 25.
At that time, several analysts argued that the coin currency had a temporary decline, signaling a change in their attitude. “Indeed, the bitcoin has reached the bottom,” said Marouane Garcon, head of the Amulet platform.
Charles Thorngren, CEO of Noble Alternative Investments, agreed with this statement, adding that it was “an attractive upward course”. However, they did not all share these views, with some even arguing that it is too early to talk about “bottom”.
“I’m not convinced yet that bitcoin’s recovery has been such that we are talking about” bottom “in the price of the digital coin,” said Vinny Lingham, co-founder and CEO of Civic.com, for his part.
The recent depreciation of the bitcoin price could easily worsen this uncertainty, prompting some traders to sit and wait while the markets will be won.