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Bitcoin Could Stretch to Real Capitulation Break Point As 2020 Price Action Proves Tougher Than 2015

The Dow Industrial Jones Average nosedived in its largest single-day point drop in history, down 13% or nearly 3,000 points. The market sell-off from last week continued, unfazed by the Federal Reserve’s aggressive intervention on Sunday – slashing interest rates to near zero in an effort to slam the brakes on a crashing economy. With no safe haven in sight, Bitcoin and the cryptocurrency markets have also spiraled, posting a sea of red, as the leading cryptocurrency currently trades at $4,970.


With miners exiting the network as Bitcoin mining pools become increasingly less profitable, analysts are looking for a bottom, which is difficult to target given the global macroeconomic outlook and the unpredictability of the pandemic.

Bitcoin Could Stretch to Real Capitulation Break Point As 2020 Price Action Proves Tougher Than 2015

Chris Burniske, a partner at venture capital partnership Placeholder, is expecting more turbulence before the turn-around.


“Once the world has stabilized, I do expect BTC, ETH and quality cryptoassets to be some of the fastest recovering assets out there, but we’ve got a tunnel to navigate before then.” Read More...