Bitcoin price analysis: BTC/USD threatens $7,000 while British addiction center welcomes crypto addicts for special treatment
- Bitcoin dips to new lows, the bearish pressure is growing.
- Castle Craig Hospital has created a special program for people addicted to cryptocurrencies.
Bitcoin is changing hands at $7,120 handle during Asian hours, the price touched $7,058 low before fresh buying interest helped to trigger the recovery. The digital currency No. 1 is mostly unchanged since the start of the day, down 3.5% in recent 24 hours.
Cryptocurrency adherers who become addicted to trading virtual money can get treatment at Castle Craig Hospital in Peeblesshire, an addiction center that has developed a specialized course for ‘crypto addicts’ to help them to learn how to live without Bitcoin and other digital assets.
Some experts believe that some people engaged in trading of digital currencies develop the behavioral addiction, similar to online gambling. Some emotionally unstable can't help following minute-by-minute price fluctuations, which is emotionally draining.
Nouriel Roubini, a famous Bitcoin critic, was quick to respond to the news with appropriate comment:
"Most crypto zealots have the symptoms of drug addiction & lunatic delusion of instant wealth that leads to mental/financial ruin. While peddlers of ICO scams are their drug dealers Bitcoin junkies to be treated at British cryptocurrency addiction center," he wrote on his Twitter account
Technically, BTC/USD looks bearish as long as it stays below $7,370 (lower line of the triangular formation around $7,370). The critical support comes at $7,000, if it is broken, April's low at $6,450 will come into focus. Once above $7,370, the recovery will gain traction with the first aim at $7,683 (23.6% Fibo) followed by $8,000.
BTC/USD, the daily chart
Author
Tanya Abrosimova
Independent Analyst
