Bitcoin price can tumble upto $2500 (read full news)

Bitcoin is priced at $6,649 this morning after another turbulent night sent prices back down, wiping away the gains from yesterday's steady recovery.

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Yesterday, Bill Baruch, President of Blue Line Futures, told CNBC bitcoin's "bottoming process can begin" following signs that volatility is "depressed" and that "selling has become exhausted".

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BITCOIN took another tumble last night with prices falling from $6,721 to $6,623 a fall of $98. With concern mounting over where the leading cryptocurrency will find its 'bottom' price, one expert has hit back, saying, "even if the price drops to $1000 there's nothing preventing another surge to $14,000."
Luis Carranza, founder of London Fintech Week has responded by telling Express.co.uk that crypto has come a long way in 2018 and there are plenty of reasons to be "optimistic".

He said: "Crypto is unpredictable. There are massive spikes and drops. $4500 could be the bottom, but there is nothing preventing $2500 from being the bottom. Likewise, as crypto becomes more mainstream the price tends to rise. Even if the price drops to $1000 there's nothing preventing another surge to $14,000."

However the fintech expert says that one reason for optimism is the amount being raised by crypto-financing, having seen exponential growth so far in 2018 alone.

He added: "The challenges for 2018 all involve regulation and the market maturing; with larger sums, crypto is becoming a grown-up game.