Tom Lee explained what caused the bitcoin correction

Bitcoin lost about $2000 after the head of the Federal reserve system Jerome Powell commented on the upcoming release of the token Libra. So says Tom Lee of Fundstrat of the company, commented on Twitter a sharp decline in the exchange rate of bitcoin on Thursday, July 11.

We will remind, the American official expressed concern about the emergence of a new cryptocurrency, as according to him, the token Libra could undermine financial stability. However, the head of the Federal reserve still doubt that cryptocurrency is in a position now to replace the Fiat currency, and the blockchain-industry still is in its infancy.

Whether I am sure that the comments of Jerome Powell spooked investors, and they took part of their capital out of bitcoin. Now the largest cryptocurrency is trading at $11 737.

However, the corrective reduction in the rate BTC is not at all scared of optimists, some of which are still on the breakthrough of bitcoin is to a minimum of $40 000.

Whether he enters the camp of the so-called «bitcoin bulls». Recently, again on Twitter, this analyst has announced the resumption of growth of bitcoin,and a new rally, in his opinion, will be more aggressive than the previous one.


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