BTC value will drop under the 3,000 USD level, huge sell-off action predicted

BTC value will drop under the 3,000 USD level, huge sell-off action predicted
Jan 12, 2019 by Rico Wise

Anthony Grisanty, a futures trader, believes that the world’s most popular digital currency will drop below the 3,000 USD level, representing a real weakness in this cryptomarket. It could become the incentive for people to opt for an exit, thereby making the asset plunge even deeper.

Grisanti is currently an analyst who earlier was an energy futures trader at Bear Stearns. Similar to other digital currency bears, Grisanti claims that BTC is inevitably moving towards its demise.

He credited the latest price instability to the sell-off action engaged by BTC financiers, who get rid of their holdings and hurry to exit the cryptomarket. No matter the liquidation – outright or via futures – it is a fact.

Scott Nations, a colleague of Grisanti’s at CNBC, echoed the BTC dismissal, stating that it possesses no value and that he would short it, given the chance.

Nations has also negatively expressed himself towards millennial digital currency advocates, stating that they have little to no idea in terms of understanding the bubble that is currently happening.

Both analysts stated that, in their opinion, the interest regarding the BTC futures is fading due to the ongoing cryptomarket’s plunge.

On the other hand, Nasdaq intends to present its BTC futures in Q1 of 2019 via a partnership with financing company Van Eck. Intercontinental Exchange, one of Nasdaq’s rivals and the parent firm of NYSE, also intends to introduce a physically-settled BTC futures product around the same time.