Published: June 8, 2018 8:32 a.m. ET Longtime bull thinks improving regulation can halt bitcoin’s fall Coming off last week’s lull, bitcoin traders hoped the market would provide them with some direction. This has not been the case.

The No. 1 digital currency is on track to top last weeks’ record tight range for 2018, having not traded outside of the $7,300 to $7,800.

In fact, as at early Friday trading the bottom-to-top range for bitcoin this week is just 5.3%. A single bitcoin

BTCUSD, -0.94%

 last changed hands at $7,572.07, down 1.1%, since Thursday 5 p.m. Eastern Time on the Kraken crypto exchange.

Read: If bitcoin is a bubble, the ‘panic’ stage is near: economist While many bulls believe the recent quiet run is the formation of a base for another move higher, one perennial bear, who called the move lower from $9,000, thinks the worst is yet to come. “This cryptocurrency had a very ugly May and it looks like things will only get worse,” said Jani Ziedins in a Friday blog post.

“This is a long-term downtrend and lower lows are still ahead of us. Breaking $7k support will trigger to another wave of selling, but the fear won’t strike in earnest until we undercut the $6k lows.” A break of the $6,000 low represents another 20% fall. Read more from…

thumbnail courtesy of