Many members of the crypto community believe that Bitcoin (BTC) has already found the bottom and now is set to rise again; however, economist and independent investor Tuur Demeester argues that for the rest of the current year we could see Bitcoin trading sideways or with a downward bias.
Demeester added that the jaw-dropping Bitcoin rally to $20,000 the crypto world witnessed in 2017 actually started as early as August 2015, from under $200 level, so the market needs some time now to cool off and absorb this 30-month historical move.
While maintaining a bullish stance on Bitcoin's longer-term prospects, Demeester considers 2018 as the year demanding great care and caution.
"I think chances are high for this year to be remembered as a shakeout year: a lemon market in altcoins, regulators catching up, and infrastructure growing pains," he wrote.
The respected economist and crypto investor provides five key reasons for that.
This article appeared first on Cryptovest
