News

Analysts forecast a Bitcoin price rollback

Jun 11, 2019 Forex News

The unstable position of the Bitcoin provokes the forecasts of the descending Bitcoin’s price.

Some of the analysts compared the descending of the coin rate with the situation at the end of 2018. Then BTC really showed the biggest drop, approaching $3000.

The loss of BTC, which we observe in June, signals a more significant weakening of cryptocurrency in the near future.

One analyst with the nick “CryptoFobinacci” doubts that Bitcoin will be able to overcome the $8,000 milestone. In his opinion, on the contrary, we will soon see a substantial pullback of the coin, which fell to $7,800 on June 11.

In any case, the rollback is necessary after an aggressive rally in April and May. During the period of the bear trend domination, traders take profit and study new investment options in digital assets.

The analyst posted a post in a social network, in which he called on market players for patience since very soon we will see a more substantial rollback of the coin. “CryptoFobinacci” predicts Bitcoin to fall to $6,800, but a more significant drop is still unlikely. Most likely, the coin briefly drops and locks at $7,400 after the resumption of growth.

The trader “CryptoBirb” is more pessimistic. He predicts a fall in Bitcoin prices to $5200-5600. The situation can only be corrected by scaling the BTC network by integrating new solutions that positively affect its performance.