Analyst predicts bitcoin to hit bottom in December like previous year – Bitcoin Price News

According to several trend analysts price of bitcoin is currently on a slippery slope. TradingShot analyst on Trading view has predicted that BTC might retract to $5,500-$6,500 and reach at the bottom in December of this year. The analyst noticed a similar pattern that bitcoin followed in December of 2018

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Trend analyst on Tradingview has predicted that the price of bitcoin might go on to touch $5,500 in December of this year. The analyst believes that the BTC is following the same pattern as it did in 2018 when the price reached the bottom.

The analyst noted that there are two identical cycles, both bull and bear, with symmetrical tops and same candle characteristics on the monthly chart that can potentially bottom in the same month.



BITCOIN Bottom in December? See this scary coincidence! by TradingShot on TradingView.com

Currently, the leading cryptocurrency is trading $8,269. The price of bitcoin suffered a huge blow later last month as it retracted from $9,500 to $8,000 in the space of 24 hours. Since then, BTC has not managed to gain any ground. Another crypto analyst predicted that bitcoin might go as low as $6,400 in the short term.

A few days ago, a top derivatives trader on Bitmex predicted that bitcoin is most likely to touch $6,000 in the coming months.

 

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Malaki Braydon
Malaki Braydon
Braydon has been into the crypto and blockchain space from the past 7 years. Based in New York City, Braydon has completed his masters from Kingsborough Community College.

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