Bitcoin is booming, but one expert says it could be primed for a pullback (via cnbcfuturesnow)
The cryptocurrency soared above $8,000 this week, pushing its total gains for the year to 125%.
"We had rallied above [key resistance] but then failed on two different occasions," Anthony Grisanti of GRZ Energy said Wednesday in a "" segment. "[Bitcoin] has doubled in the last five months, so I would expect a bit of a pullback, and on the downside, there's a very interesting gap there, from $6,870 to $6,425."
The technicals may signal a pullback, but Path Trading Partners chief market strategist Bob Iaccino says there's a key catalyst behind the bitcoin boom that could change the ecosystem, making the cryptocurrency much more friendly to consumers and businesses.
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