Expert Says Bitcoin Will Not Stay Down

On Friday Bitcoin dipped below $6,000 (US), and that sudden dip gave many investors quite the scare, however, experts say this is only temporary.

Bitcoin made a temporary plunge below $6,000 (US) in value on Friday June 22, 2018, which caused many holders to panic, but experts aren’t worried one bit. Brian Kelly of BKCM told CNBC's Fast Money that the reasons for the dip was many fold but largely because of tax selloffs, regulations on cryptocurrencies in Japan, exchanges being hacked, and $10 billion funding ICO’s.

"This is not the funeral for bitcoin whatsoever," Kelly told CNBC. He also stressed that this isn’t unusual and said, "Let's put this in perspective. Do you know where we were a year ago? $2,500."

'Fast Money' trader Brian Kelly says bitcoin isn't dead yet from CNBC.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.