Some market observers believe bitcoin can rally into the end of the year, but there is a price area where that rally could stall, that being around the $8,500 area.
“Bitcoin permabull Tom Lee, managing partner at Fundstrat Global Advisors, is another one who believes he has found a cheat code for bitcoin based off the changing temperatures. Using seasonalities of altcoins, or digital currencies other than bitcoin, Lee argued the fourth-quarter will be where the HODLers can stop holding their breath,” according to MarketWatch.
Last week, reports surfaced that Morgan Stanley could offer bitcoin swaps and derivatives trading for some clients.
For more information on the cryptocurrency market, visit the Bitcoin category.