The trader's prediction: Bitcoin will fall by 30 per cent and will focus on the 3 thousand
Source:The Head of Genesis and Genesis Trading Capital Trading again appeared on CNBC in the transmission «Squawk on the Street». He believes that we have groped a bottom of Bitcoin is only somewhere around 3 thousand. The assurance Moreau, institutional investors do not care about the price of Bitcoin in 2018. They look for the future at least 3-5 years.
It is very difficult. So far, we see very weak resistance level. Over the last couple of days has twice tested support level of 4 thousand. And I really think we'll get to around 3 thousand.
According to CNBC, at one point BTC has lost 40 points, it is still a prolonged deep dive, which coin started in December last year after starting on . At the same time the coin reached its peak at 20 thousand dollars. Today the rate has fallen and is now equal to $ 3733. Capitalization is 64,92 billion dollars, the level of daily trades exceeds $ 5 billion.
Moreau advised to refrain from buying cryptocurrency on the rapid decline and assured that long-term investors cope with these fluctuations and wait for the rebound from the bottom. He recalled that over the last ten years of Bitcoin, we are seeing for the fifth or sixth serious drawdown by 75 percent or more.
If you treat the cryptocurrency as a long term investment, then you shouldn't worry about what the price will be at the end of 2018. I don't think that institutional investors really care about is the fall, as they focus on future results that we will see in 3-5 years.
Recall, COO BitPay that by the end of 2019 Bitcoin will grow to 15-20 thousand dollars. In addition, the analyst Cracked.Market that Bitcoin will return to the level of 5 thousand dollars, and did not reach 3 million. More data to search for .
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