The digital currency reached as little as $6,828.48 today, its lowest since late November, CoinDesk figures show. After its latest declines, has the world’s most prominent digital currency entered oversold territory? “Looking at RSI metrics, I would not say we triggered an oversold situation,” said John Todaro, director of digital currency research for TradeBlock, referring to the Relative Strength Index, an indicator used to determine whether an asset is either overbought or oversold. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, offered a similar perspective, stating that “bitcoin is currently approaching the oversold threshold.”Has Bitcoin Bottomed Out? As for whether the digital currency has hit bottom, multiple analysts indicated it has not.

Source: Forbes December 17, 2019 00:22 UTC