- Bitcoin (BTC) moves without reason or rhyme
- Roger Quantrillo’s prediction of $7350 came to pass last month
- Quantrillo predicts that Bitcoin price would hit $17,200 by the end of this year
Bitcoin News Today – Bitcoin (BTC) has been moving without rhyme or reason this period. Bitcoin is the most volatile digital currency in the market, and it has offered both short sellers and long holders the opportunity to make an abundant profit in a short period of time when compared to other assets such as bonds, or stocks. Regardless of the random nature and consistent volatility of the digital currency, some analysts have built models and have made analyses that have predicted the price action of the digital currency market accurately.
One of such analyst is Roger Quantrillo. Quantrillo is a digital currency trader on Twitter that gave a hypothetical price prediction earlier this year.
Bitcoin (BTC) Price Today – BTC / USD
Roger Quantrillo Gives Speculative Bitcoin Price Predictions
On July 2, a few days after Bitcoin tested its year-to-date high of almost $14k in a remarkable fashion, Quantrillo tweeted that the price of Bitcoin (BTC) is going to test the $7,850 to $7,350 levels and there is nothing anyone can do about it.
We going to test the 7850-7350$ Levels and there is nothing you can do about it!
Break = not good
— Roger Quantrillo (@rogerquantrillo) July 2, 2019
His prediction seemed crazy at that time. However, the digital currency recently fell to $7,300; it plunged to that level in October in almost 50 percent drawdown from its year-to-date high of $13,800. The bearish price action of the digital currency might continue. However, Delphi Digital – digital currency analytics unit – found that it is highly likely that Bitcoin bottomed at $7,300. One of the morsels of evidence they have is the volume profile of Bitcoin. The trading volume of Bitcoin, the amount of digital currency that was traded, has printed clear signs that a bottom is in.
More specifically, the digital currency market printed signs of week volume (capitulation), a short accumulation at the bottom range, and then a surge out of the accumulation into a possible new bull phase. This means that Quantrillo was right. His prediction was correct. What is crazy is that emotions were running hot when he gave his prediction.
Many totally disagreed with this prediction, as the digital currency just surged to $13,800 drastically. Some were even expecting the digital currency to surge to $20k by the end of July.
Bitcoin Would Hit $17,000 by the End of Year
In a recent tweet, this market soothsayer said that the price of Bitcoin would hit $17,200 by the end of this year. This means that Bitcoin would surge by about 100 percent in less than sixty days. quantrillo’s prediction seems more realistic when compared to the bullish predictions of other analysts. However, only time would tell if BTC would end the year with that level.