According to Fundstrat Global Advisors analytical strategist Robert Sluymer, the world’s leading cryptocurrency by market cap bitcoin (BTC) may fall down to the key level of $3,100, Bloomberg states.
Sluymer says the price for most cryptos remains weak and "appears vulnerable to a pending breakdown to lower lows."
"A break below the fourth-quarter lows at $3,100 would imply a decline to $2,270, while a move above $4,200 is needed to signal Bitcoin is beginning to improve," Sluymer said.
Earlier, Co-Founder of Fundstrat Global Advisors, Tom Lee, said Fundstrat won’t make any price predictions regarding bitcoin because of "the inherent volatility in crypto."
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