A Swiss investor who predicted the 1987 stock market crash and the Great Recession just bought his first Bitcoin. Marc Faber, a former crypto skeptic, told the Swiss media outlet Cash that he now finds the price of BTC attractive after its fall from nearly $20,000. He believes Bitcoin could become an effective global currency, but warns people should only invest what they can afford to lose.
“I bought Bitcoin for the first time 10 days ago. It’s not certain, but possible, that Bitcoin will be the standard for money transfers.”
Right now, the crypto markets are mostly in the green, with Bitcoin moving sideways up 0.02% at $3,890. Ethereum is up 0.94% at $133, and XRP is down 0.72% at $0.3100 at time of publishing.
Technical analysts are trying to gauge the short-term outlook, with CoinDesk saying Bitcoin may be poised to rise above $4,200 in the near future.
Cointelegraph – Short term outlook points to a consolidation
NewsBTC – ETH at continued risk of weakness
Live Bitcoin News – ETH primed for additional losses
Blockonomi – Downside thrust before fresh rebound
FXStreet – XRP not poised to lead market movement