Bitcoin is at an important level
After the last Bitcoin price drop, it still hangs on the important support level of $ 9,000The previous Sunday, Bitcoin fell in a $ 100 movement that took place in over 30 minutes, and the price even fell below $ 9,000. During this time, the price of spot and derivative platforms was even $ 8,910, liquidating millions in the processHowever, the bulls were able to push the price up a bit again. At the time of writing, the price is $ 9,100. This is a point the BTC has been dealing with in the past few days.However, according to the well-known gold bug and Bitcoin critic Peter Schiff, the Bitcoin will not hold the $ 9,000 for long.Both gold and bitcoin have been in a waiting position for the past two weeks. Gold tried to break the $ 1,800 while Bitcoin kept nibbling at the $ 9,000.
The CEO of Euro Pacific Capital believes that both assets will soon experience their respective outbreaks. On July 5, he wrote:
“Gold appears to be easing at just under $ 1,800 resistance, while Bitcoin is easing at just over $ 9,000 support. I was expecting both resistance and support to give way, with gold going up with the collapse of Bitcoin. ”