Bitcoin at $3500 levels ! Time to buy ????
J P Morgan CEO called bitcoins as scam. Not sure what is the theory he used to call the bitcoins as scam. There is a continuous flow of negative news in the cryptocurrency markets. Previously, China banned ICOs and decided to regulate. Bitcoin touched down $3500 levels and if the analysts are to be believed it may go down further to the levels of $3000. However, its just the matter of days when it bounces back.
All the major crypto currencies are trading in negative zone. At the time of writing this post, bitcoin was trading down below $3500 mark. After almost a month Bitcoin has breached the support level of $3500
The price target has now been set at $3000 by various currency analysts.
Ethereum was trading down 10% to the levels of $250.
Even the newly borne bitcoincash was trading down by 7% and was hovering near $500 mark.
It was a long due correction, which finally appeared, its interesting to see for how many days it lasts now
Apparently BTCChina will close at month end - I think this will push the price down by quite a lot - so I'd recommend waiting a bit longer to buy
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