Crypto Daily – The Bitcoin price is once more threatening to roll over, having been rejected from a $66,500 local top last week. Enough buying to force the price up is still failing to materialise, and therefore price momentum continues to be generally weak. Does this herald yet another price dump to lower levels for Bitcoin?
Seventh month of sideways price action for $BTC
As Bitcoin enters its seventh month of sideways and downwards price action investors are no doubt feeling the doubt and anxiety common to all those who hold the number one cryptocurrency asset.
However, this is the life of an investor, and as Warren Buffet famously once said:
“(the) market is a device for transferring money from the impatient to the patient.”
If this is the case, it looks as though investors may have to wait even longer for Bitcoin to break its current bonds and head upwards into new price territory.
