Forbes Analyst Expects Bitcoin Price At $2,500

Forbes Analyst Touts $2,500 Bitcoin Price Target

Clem Chambers, a markets analyst publishing to Forbes, recently released an article to the outlet’s contributor network, explaining why Bitcoin (BTC) could head lower in due time. Chambers, the CEO of ADVFN and a well-known financial industry journalist, first drew attention to how markets, Bitcoin included, normally react in, during, and after a “crash.”

The reporter, who hasn’t been afraid to comment on crypto historically, explained that market collapses happen in “stages,” as seen by BTC’s drawdown in 2018, which saw the asset fall to key levels at ~$10,000, $6,200, and, most recently, $3,500 for weeks at a time.

Elaborating on why his remark is relevant, Chambers noted that once a market, like crypto, stabilizes or range trades, it is only a matter of time before assets breakout, and “produce a sizeable move.” While Chambers’ comments may make it sound like he aims to be a soothsayer, he added that this…