Bitcoin Price Prediction: Bitcoin (BTC) to Reach $10,000 by 2019, Analyst Predicts – What will be trend of bitcoin in 2018?

Bitcoin (BTC) news today: The founder of Trading Analysis, Todd Gordon, predicted that bitcoin (BTC) would drop to $4,000 before rebounding to $10,000 next year. He made this comment on June 22 on CNBC Stock Draft.

Bitcoin (BTC) Price Today / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$42,161.00-0.15%

Gordon believes that bitcoin will dip below $5,000 and push back to $10,000 when the year ends. His reason for this prediction is market volatility. He was urged to speak about his estimates, and he quoted a beautiful uptrend calling the recent correction from $19,000 “inconsequential” considering bitcoin (BTC) price gains since the year 2015.

Gordon’s Comment

The analyst also said that the present price range is 17% and it is unarguably the lowest the digital currency has ever experienced. He stated, “there were periods when it was up to 40% per week, so if I am down by 30% in bitcoin (BTC), it doesn’t mean anything, I can make it up in 2 weeks.”

Gordon gave reasons for believing that the crypto market is technically driven and reckoning on market sentiments and technicalities could help recover losses in the future.

The analyst’s site TradingAnalysis.com offers trading strategies and market analysis. Gordon has predicted about other markets and commodities such as crude oil. When crude was trading at a $41 low in November 2015, he predicted a decline to $26. In a few months, crude started trading at $26.05.

Another forecast

Earlier in the month, Trefis, a stock analytics firm predicted that bitcoin (BTC) price would reach $12,500 by the year’s end, $2,500 lower than what they initially forecasted. The forecast was based on the basics of supply and demand where the demand is number of users as well as the amount of transaction, and the supply is the number of available bitcoin.

In May, Spencer Bogart, a Wall Street analyst stated that major cryptos would trade above $10,000 by the end of the year. The analyst also proposed that the reality of a heavily institutionalized crypto space is positively impacting bitcoin’s future.

 

 

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.