Thomas Lee, the head of Fundstrat, a market research company, attempted to calm panicking Bitcoin investors by stating that it, along with a string of other “alt-coins”, may have found their bottom in the market.
He added that the worst of the sharp falls could be “largely over”.
The positive market outlook from Mr Lee comes during a time of horrifying Bitcoin losses.
In the last month, the cryptocurrency has had $2,695.53 taken from its trading value.
This free fall marks a decline of 26.14 per cent.
Bitcoin is currently trading at $7,615.07 at the time of writing.
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