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Bitcoin Price Is Expected to Experience "Mega Bounce" to $14,000: Crypto Trader

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    Crypto trader predicts that Bitcoin could bottom out at the $6,000 level before shooting up to $14,000

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While the Bitcoin price continues to range in the $8,100 region, some traders are sharing their wild short-term predictions.

Namely, "Credible Crypto" expects a mega bounce by the end of 2019. However, prior to that, the bulls will experience more pain given that the BTC price could drop to as low as $6,000. Such a strong correction from this year's high of $13,700 would seemingly invalidate any bullish narrative, but the analyst is certain that Bitcoin will rapidly rise from there. 

Bitcoin is no stranger to volatile price swings, so this forecast doesn't seem too far-fetched. Moreover, it goes in line with Peter Brandt's prediction about the BTC bottoming out at the $5,000 level in January 2020 before starting its next parabolic move to $50,000

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Bitcoin Price Possible Heading for $6,000 Would Still ‘Make Bullish Structure Macrowise”, Analyst Says

Bitcoin Price Possible Heading for $6,000 Would Still ‘Make Bullish Structure Macrowise”, Analyst Says

Meanwhile, as reported by U.Today, Bitwise says that they are "closer than ever" to Bitcoin ETF approval. Considering that the SEC is supposed to voice its final decision as early as this week, the Bitcoin price is bound to experience another major move in the short-term. 
 

Do you think Bitcoin will eventually drop to $6,000? Feel free to voice your opinion in the comment section! 

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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

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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’

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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