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Bitcoin looks ‘very sick’ and the pain is not over, says analyst

August 10, 2018

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After a brief reprieve on Thursday, when most digital currencies finish in the green, all major coins showing losses in early New York trading on Friday.

Bitcoin BTCUSD, -0.30% the world’s largest digital currency was last changing hands at $6,308.79, down 3.1% since Thursday at 5 p.m. on the Kraken cryptocurrency exchange, after reaching an overnight high of $6,621.71.

With just two winning sessions since July 29, the outlook for bitcoin is anything buy rosy. “Long gone are the hopes of retaking $8k and now only a few hundred dollars separates us from another lower-low. This chart is very sick and we still have a way to go before this over,” wrote Jani Ziedins of CrackedMarket Friday morning.

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