The One Thing This Bitcoin Bear Needs to See to Become Bullish

Written by:
Guest
Published on:
Jul/10/2018

Speaking to CNBC Tuesday afternoon, one analyst said he could turn bullish on bitcoin.

“After the move we’ve seen it’s very difficult in the short term to be bullish,” Todd Colvin, analyst at Ambrosino Brothers, told CNBC’s “Futures Now” on Tuesday.

What could change this position is if bitcoin should see clarity on factors such as security, regulation and accessibility.

Hacks and security breaches are “the things that cause these bear markets, when you have these, 'Oops, somebody robbed my wallet off an exchange.' That caused the last big $1,000 decline we had,” he explained.

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A change in crypto markets could turn one bitcoin bear into bitcoin bull from CNBC.

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