Published On: Fri, Jun 15th, 2018

Bitcoin ‘Boom-Bust Cycle Has Repeated Itself’ – Senior Market Analyst (Interview)

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Bitcoinist has once again caught up with Mati Greenspan, Senior Market Analyst at eToro, the most popular social trading platform in the world with millions of users. Greenspan keeps a close eye on cryptocurrency markets and shares his thoughts on the recent Bitcoin price plunge and why he believes this current downtrend nothing out of the ordinary. 

The price could easily reach $2,000 or $20,000 in the next two months. Neither would surprise me very much.
– Mati Greenspan

Bitcoinist: Most mainstream outlets seems to have parroted each other in attributing the drop in Bitcoin price to the Coinrail hack? Why don’t you agree with this?
Mati Greenspan: Financial media has a way of looking for a news event to tie to every market movement but this was particularly exaggerated. We’ve seen much larger hacks that were met with price surges. It seems that the authorities and exchanges did a pretty good job of limiting the damage from the Coinrail hack, and not a single bitcoin or ether was stolen, it was only alt-coins. This move was technical.
Bitcoinist: So why is BTC falling now? Do you see this as a correction or something more serious …

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