Cryptos: Bitcoin is imploding — here’s where bitcoin bulls and bears see it headed from here

Following a blistering 80% decline from its peak this year, the brutal drop in the price of bitcoin BTCUSD, -0.07% has market participants wondering what’s next for the No.1 digital currency.

A fresh bull run from here? Or look out below!

Given the a more than 20% drop over the past 36 hours, it might be the latter.

However, both camps are making their cases for the digital asset’s next move:

Read:Why bitcoin prices are staging a fresh collapse

The bitcoin cheerleaders

Tom Lee

One of the more prominent bitcoin bulls is Tom Lee, managing partner at Fundstrat Global Advisors.

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