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Bitcoin is up 125% this year but could be due for a pullback, experts say

From cnbc.com

{video} Bitcoin is on fire. The cryptocurrency soared above $8,000 this week, pushing its total gains for the year to 125%. Bitcoin is now sitting just under its 52-week highs, but some experts warn a pullback could be coming “We had rallied above [key resistance] but then failed on two different occasions,” Anthony Grisanti of GRZ Energy said Wednesday in a “Futures Now ” segment. ”[Bitcoin] has doubled in the last five months, so I would expect a bit of a pullback, and on the downside, there’s a very interesting gap there, from $6,870 to $6,425.” “If we start getting some profit-taking in this market, it will fill ... (full story)

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  • Category: Fundamental Analysis