Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

“Since the beginning of the month, BTC/USD has gained more than 17%, which looks like an impressive result but only at first glance,” FxPro senior market analyst Alex Kuptsikevich wrote in an email about the bitcoin/U.S. dollar pair. “The thing is, bitcoin was driven as low as possible by the end of June, and the current remarkable rise is just a recovery to the levels of three weeks ago.”