CRYPTOCURRENCIES LATES NEWS: Currency strategist does not advise buying bitcoins on a minimum

Currency strategist BK Asset Management Boris Schlossberg believes that in the last drop of the bitcoin course, many investors mistakenly saw the opportunity to add positions. This is written by CNBC. 

Schlossberg encourages traders not to become hostages to empty hopes. In his opinion, in the coming weeks, unpredictable events can occur on the market, so he himself is not in a hurry to buy bitcoin. 

Bitcoin has attracted considerable investor attention this year, but price volatility in recent days is indicative of rising volatility, according to Schlossberg. He does not rule out the possibility of a prolonged depreciation and suggests that investors will continue to close positions, transferring their assets to traditional markets. 

In his opinion, reliable support for bitcoin was formed at the level of $ 10,000, where he traded for a long time before moving on to the next phase of rapid growth. However, the attempt to buy bitcoin at a minimum, says the analyst, is akin to trying to catch a falling knife. 

In May, Schlossberg was more optimistic about the cryptocurrency and even encouraged investors to include bitcoin in their portfolios. Then he called the cryptocurrency an instrument that can protect investors from the uncertainty that reigns in traditional markets. 

Unlike Schlossber, analyst Tom Lee considers the drop of the bitcoin course to be healthy dynamics and even uses the opportunity to add positions.