Bitcoin echo bubble can cause 40 percent price drop, says Mark Dow

Bitcoin echo bubble is once again in the news! Many ace investors and bitcoin experts are of the view that Bitcoin is in an ‘echo bubble’. The technical-trading term has gained quite a following lately ever since prominent hedge fund manager Mark Dow used it to describe Bitcoin’s price movements. He went short on Bitcoin after it touched a high of $20,000 in December 2017. Mark Dow recently tweeted a warning that Bitcoin will ultimately face a ‘grinding death’ after suffering from many FOMOs and spoofs with varying intensity and frequency. Bitcoin echo bubble represents the perpetually decreasing price of