Analysts negative to the price trend in bitcoin: “Can’t see $7,000 holding”

Analysts negative to the price trend in bitcoin.

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Christian Ploog

christian.ploog@trijo.co

There are both positive and negative voices about the crypto prices future. The question is where we are heading next.

The crypto markets have gone down during the last couple of days, and although bitcoin (+0,45%) seems to have stabilized a bit over $7,000, the cryptocurrency does not seem to have any plans to go up.

The question now is where the prices are heading.

Positive and negative voices

There are those who are optimistic about the future. One of them is the antivirus entrepreneur John McAfee. Another is Thomas Lee, co-founder and head of research at the analyst firm Fundstrat. Lee has said he believes that the bitcoin price will reach $25,000 before the end of the year.

But there are also those who are not as optimistic. The crypto analyst Willy Woo, for instance, believes that the bitcoin price will fall below $6,000 rather than bounce back to $8,000 again.

“I think we are gonna go to $5,500 – 5,700 next, I can’t see $7,000 holding. Most likely we’ll balance a bit, then we’ll slide through”, Willy Woo writes on Twitter.

Ari Paul, co-founder of the cryptocurrency investment firm Blocktower, has pointed out that there have been low trading volumes lately.

“Always a good bet for vol to mean revert, but this has been a low volume consolidation which is a much weaker setup for explosive moves than a high volume consolidation”, Ari Paul writes on Twitter.

Prices the last 24 hours

Asset: Price: % (24h)
Bitcoin $7 549,88 +0,45%
Ethereum $605,29 +0,36%
Ripple $0,622197 +1,05%
Bitcoin cash $1 040,53 +0,47%
Eos $12,64 +1,94%

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