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Bitcoin Price Could Soon Double If History Repeats Itself: Top Crypto Trader

  • Alex Dovbnya
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    There is a good chance that the BTC price could print a new ATH in 2019

Bitcoin Price Could Soon Double If History Repeats Itself: Top Crypto Trader
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Cryptocurrency trader Josh Rager alleges that the Bitcoin price could double if it follows the same pattern as during the 2016-2017 bull market.

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Backed then, the BTC price rose from its bear market low of $220 to $550, which mirrors Bitcoin’s ascent from $3,100 to $13,700 in 2019. After that, back in July 2016, Bitcoin skyrocketed to $900 out of nowhere. Hence, it is not unreasonable to expect a 2x increase this time around given the cyclical nature of this market.

According to Rager, the main challenge for BTC is not to plunge below the $9,000 support level. However, even if Bitcoin does experience another severe correction, he predicts that buyers will be back in the game in the upper-$7,000 region.

The major drawback of this bearish scenario would be sitting through weeks of sideways trading.

As reported by U.Today, John Bollinger, the creator of the Bollinger Bands indicator, expects a major price move in the short-term. Speaking of the long-term, Bitcoin’s power-law growth model shows that the coin will be worth no less than $100,000 by 2028.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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