Bitcoin Price to Reach $10,000 by 2019
June 27, 2018
Todd Gordon, the founder of TradingAnalysis, predicted that Bitcoin (BTC) will sink to $4,000 and then recover up to $10,000 by 2019.
When asked about assessment Gordon pointed at “beautiful uptrend” and called the recent correction below $19,000 insignificant given incremental BTC price since 2015.
The analyst said that current range between the lowest and the highest prices makes in average 17% which is among the lowest indexes for BTC.
“There were times when it was 20, 30, 40 percent [per] week so, if I’m down 30 percent right now in Bitcoin, that’s nothing, I can make that up in two weeks,” he added.
Gordon states that crypto market is very technically driven so provided financial and market sentiments it is possible to recoup some losses soon.
Earlier in June stock analyst company Trefis evaluated BTC cost to $12,500 долларов at the end of the year which is $2,500 less than the original prognosis. The Trefis's BTC forecast is based on fundamental supply and demand indexes with demand being the number of users and transactions while supply is the number of available BTC.
Last month Wall Street analyst Spencer Bogart said, the major cryptocurrency will cost at least higher than $10,000 by the end of the year. He supposed that deeper institutionalization of crypto space provides for long-term development prospects and bears positive effects for the future of Bitcoin.