Expert who predicted bitcoin to fall to $20,000 this summer, promises its rapid rise in price
ID: 1987257
“I do not know whether the value will actually reach $20,000 or not, but in January I have repeatedly said that in the next few months the price will roll back to this mark. Then everyone was speculating about the math and patterns, and that we would never see those numbers again (remember, Bitcoin was at $40,000-50,000 at the time, and my opinion was considered one of the least popular). Already today, Bitcoin is worth about $24,000, and it is likely that the price will go down by a few thousand more”, said George Galoyan.
According to George Galoyan, in the next few months, the market expects an uptrend, and the value of Bitcoin will begin to increase.
“We observe cyclicality in the price formation processes for cryptocurrencies. If you look at previous years, you can see that in June 2020 the drawdown was about 10%, from $9890 to $9000. In June 2021, the price dropped from $56,000 to $27,000. Now the cycle is repeating itself. In the short term, there are two possible developments. By the end of the year, Bitcoin may break through ATH, in case we see an altcoin season in the fall. If it will not be, it is likely that it is a transition to a long-term bearish trend until the next high-profile trends,” says George Galoyan.
Recall that earlier George Galoyan had predicted the dawn of the DAO era and the flowering of the NFT market.
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Datum: 14.06.2022 - 09:45 Uhr
Sprache: Deutsch
News-ID 1987257
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