Despite the fact that this year bitcoin likely has passed its lowest point, next year the first cryptocurrency may fall to even lower levels. This opinion was expressed by new York-based analyst at Bloomberg Intelligence Mike McGlone.
Bitcoin rises in price for the fifth consecutive trading session, and earlier today for a short time rose in price above $4000. The growth of cryptocurrencies within a few days was observed this year earlier — the last time this happened in September, after which the price again went down.
However, according to the publication, now that the situation may be different and at least to 2018 is the bottom for bitcoin is left behind. With such an assumption agrees and Mike McGlone.
«All the main indicators suggest that the market is oversold, possibly the hardest in the entire history of bitcoin», he said.
However Mike McGlone predicts that in 2019 the crypto currency will fall to even lower levels.
Anyway, at this stage, which came exactly a year after bitcoin went to historical highs in December 2017, markets dominated by a relatively positive mood. Indirectly, this can say that at least one is known to the trader before publicly announced that it has closed its short position, opened a year ago, and ceases to short bitcoin.
During the year, a former IMF economist and now managing a family office in southern California mark DOE were shorter bitcoin, twice the profit. How, then, DOE explained, bitcoin exchange rate rose last year due to high interest random people who do not understand the devices of cryptocurrency and that to stay long at such heights it is a long way.
In fairness it should be noted that DOE did not specify whether it made a decision based on faith in the growth of bitcoin.
We will remind, earlier about the imminent end of the bear market, said Galaxy Digital Mike Novogratz. In his opinion, in the near future bitcoin will be in the hallway between $3000 and $6000.