Cryptocurrencies tumble after China's latest crackdown. Here's why traders see opportunity - CNBC
Johnson, who mines bitcoin, said this weakness offers an entry point to get into bitcoin at a lower price."This little lower high in here, it's going to be an opportunity here where I'm going to be wanting to buy on these pullbacks," said Johnson.Bitcoin traded Friday at $42,500.
Danielle Shay, director of options trading at Simpler Trading, is also bullish on the space and identifies the 50-day moving averages for bitcoin and ethereum as supportive.