Bitcoin managed to recover to $7,500 handle, but the upside is limited. Nobel Prize-winning economist thinks that cryptos are unsustainable in their current form. Bitcoin recovered from Asian low registered at $7,338 and came close to $7,500 handle. The digital currency No. 1 is 1.5% higher since the start of the day, but the upside momentum is weak as long as the price stays below $7,500 resistance Nobel Prize-winning economist Robert Shiller compared Bitcoin to dinosaurs, saying that it would disappear in 100 years time. While the doomsday is not happening tomorrow, cryptocurrency domain is too unpredictable to be sustainable. “Bitcoin won’t look anything like it is today. It will have a different name, if it exists. There will have been many hard forks changing it and changing it. And, it’ll be a matter of dispute whether it exists or not,” he saidTuesday on CNBC. Bitcoin’s technical picture Technically, BTC/USD spiked above both 50 and 200-SMA on the hourly chart, but further recovery is still capped by $7,500. Once it is cleared, Bitcoin, $7,683 (23.6% Fibo) will come into focus with the ultimate aim at $8,000. On the downside, fresh buying interest around 100-SMA ($7,322) will provide short-term support for the coin, but if it is broken, the sell-off may be extended towards $7,000. BTC/USD, the hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Eurozone: Inflation may be back on a higher track – AmpGFX FX Street 5 years Bitcoin managed to recover to $7,500 handle, but the upside is limited. Nobel Prize-winning economist thinks that cryptos are unsustainable in their current form. Bitcoin recovered from Asian low registered at $7,338 and came close to $7,500 handle. The digital currency No. 1 is 1.5% higher since the start of the day, but the upside momentum is weak as long as the price stays below $7,500 resistance Nobel Prize-winning economist Robert Shiller compared Bitcoin to dinosaurs, saying that it would disappear in 100 years time. While the doomsday is not happening tomorrow, cryptocurrency domain is too unpredictable to be sustainable.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
