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Trading Analyst: Bitcoin Price to Hit Above $10,000 in 2019

 

Todd Gordon, founder of TradingAnalysis.com, made ambitious predictions about the bitcoin price on a program he attended at CNBC on June 22nd. According to Gordon’s estimates, the Bitcoin price will first see a significant decline. In 2019, positive developments will take place in the price and Bitcoin price will be above 10 thousand dollars.

Gordon claims that Bitcoin will fall to the level of 5 thousand dollars and that it will reach 10 thousand dollars at the end of this year. When he was asked what these estimates were based on, he said the Gordon market was generally in good condition, and that Bitcoin’s decline to around 20,000 dollars was not that important. According to Gordon, the growth that Bitcoin has experienced since 2015 is more important than the $ 20,000 decline in the region.

 The expert says that Bitcoin’s current high-low area is around 17 percent on average, which is one of the lowest levels Bitcoin has ever seen. Saying that he saw 20 percent, 30’s and even 40’s of this rate, Gordon said,

“If I suffer 30 percent of Bitcoin right now, it will not be a big deal. I can close it in two weeks. “

The technical developments in the crypto money market are affecting the market very seriously and it is possible to see positive developments in the near future depending on the current technical structure and market situation.

The founding site of Gordon gives a variety of market analysis and trading strategies. Gordon also comments on various commodity markets such as crude oil besides crypto money market. He predicted that in November 2015, when the price of crude oil was $ 41, the price would fall by almost 50 per cent to 26 dollars. In February 2016, the price was lowered to $ 26.05.

Trefis Bitcoin, a stock analyst firm at the beginning of June, estimated that the bitcoin price would be $ 12,500 at the end of the year. Trefis’s interpretation of BTC is based on the supply-demand equation.

Apart from these companies, Wall Street analyst Spencer Bogart also commented on the month’s crypto money, saying that Bitcoin “will be sold for at least 10 thousand dollars” at the  end of the year

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