eToro analyst: BTC's trend will deteriorate further in the next few days, and a market reversal requires an upward catalyst event
eToro market analyst Josh Gilbert said in an interview with Cointelegraph that most of the sell-off can be attributed to concerns about the repayment of Mt. Gox creditors. In this month, BTC worth about $8 billion will flow into the market. It is expected that the price of Bitcoin will further deteriorate in the coming days. Currently, there are far more negative news than positive news, and the selling activity obviously makes investors uneasy, which often triggers more selling. The price will be relatively weak in the short term until the market receives a catalyst to push the price up, which may appear in the form of investors "buying on dips" or the approval of ETH ETF to improve market sentiment.
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