Bitcoin ‘potentially reached’ local bottom, Bitfinex saysBitfinex analysts pointed out several reasons suggesting that Bitcoin’s bloodbath should be over soon.After facing a massive sell-off in June, Bitcoin might have potentially reached a local bottom, according to a new report by analysts from the Bitfinex exchange.Bitcoin’s (BTC) price plummeted below the 120-day range on July 3, dropping to as low as $53,219 amid the increasing fear, uncertainty and doubt related to the start of Mt. Gox’s creditor repayments and other issues.Bitfinex analysts suggested on July 8 that Bitcoin might have reached a local bottom based on market data over the weekend, even though Mt. Gox is yet to distribute 94,457 BTC — or about 67% of total BTC in repayments collected for creditors.Bitfinex also mentioned that the fall in BTC was partly triggered by the German law enforcement agency Bundeskrimanalamt (BKA).
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*Source: Bitfinex/CryptoQuant* 

 After facing a massive sell-off in June, Bitcoin might have potentially reached a local bottom, according to a new report by analysts from the Bitfinex exchange.

Bitcoin’s 
BTC
tickers down
$57,171
 price plummeted below the 120-day range on July 3, dropping to as low as $53,219 amid the increasing fear, uncertainty and doubt related to the start of Mt. Gox’s creditor repayments and other issues.

Bitfinex analysts suggested on July 8 that Bitcoin might have reached a local bottom based on mark 

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