RATE Group | Analyst Who Called Bitcoin’s 2019 Price Action Warns of Potential Pullback to $6,000
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Analyst Who Called Bitcoin’s 2019 Price Action Warns of Potential Pullback to $6,000

02 Mar Analyst Who Called Bitcoin’s 2019 Price Action Warns of Potential Pullback to $6,000

Posted at 04:06h in Bitcoin News by

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Joel Kruger, currency strategist at LMAX Group, in December 2018 remarked that he expects for Bitcoin to end 2019 between $5,000 and $8,000. And that it did, with the cryptocurrency ending the year right around the upper-middle of that range in the low-$7,000s.

The analyst recently sat down with cryptocurrency media outlet BlockTV to talk where he expects the price of the leading cryptocurrency to head next.

Bitcoin Could Fall All the Way to $6,000 Before Catching Bid

Kruger explained that there’s a good chance Bitcoin could retrace towards $6,000 in the coming weeks and months, citing his sentiment that the cryptocurrency may be an asset that performs poorly in a risk-off environment because of its nascency and its relation to technology:

“There is a lot of support towards the $6,000 area and it is very possible that we could see a pullback down to that level before the market will be very well supported.”

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