Lee obviously remains confident that the token will make a full recovery, he cites the previous long bear markets in 2014 when BTC never sustained a move below break-even. He stated:
“While bitcoin broke below that psychologically important $6,000, this has led to a renewed wave of pessimism. But we believe the negative swing in sentiment is much worse than the fundamental implications.”
Experts have come up with various reason why the foremost token isn’t able to gear up and most blame the hard fork war of Bitcoin Cash. The division of the BCH community, the verbal mudslinging and hash power battles are just embroidering the weaknesses of the ecosystem.
Read more: World’s First Bitcoin ETF Approved By Switzerland