RATE Group | Trader: Bitcoin (BTC) To Fall To $2,500 By January 2019
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Trader: Bitcoin (BTC) To Fall To $2,500 By January 2019

27 Nov Trader: Bitcoin (BTC) To Fall To $2,500 By January 2019

Posted at 10:20h in Bitcoin News by

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Bitcoin Is A “Wild West” Show

Stephen Innes, an Asia-Pacific market-focused trader at New York-based Oanda, recently sat down with Bloomberg to discuss his opinions on the crypto market at large, along with the price action of Bitcoin (BTC) in recent weeks.

The Bloomberg anchor, struggling to keep his laughter contained, commenced the segment by drawing attention to Innes’ recent forecast that BTC was set to trade in a $3,500 to $6,000 range before falling to $2,500 by January 2019, a peculiar collective of price levels to say the least. Explaining his prediction, Innes told viewers of the segment:

You know it’s a bit of a wild west show out here in crypto lands, that’s for sure, so we have to be a bit guarded. Looking at some of these metrics, basically [there’s] unquantified risk. [And] what I’m really looking at is the way coins have been trading in the past few months, and it’s indicative that the [Bitcoin] bottom isn’t in.

Calling the current state of crypto…

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