OKEx's cryptographic operations head Andy Cheung is confident that the current Bitcoin price rally has residual strength to retest a maximum of $ 20,000.
At the same time, he called this level a “conservative forecast,” hinting that most speculators are less likely to go out of long positions on Bitcoin. The OKEx manager also reminded about the bitcoin halving , which historically has put increasing pressure on the price of cryptocurrency.
“$ 20,000 is a conservative bitcoin price forecast in 2019, as I said last year. The rally will not stop here, because more and more institutional investors are coming to the market, and the effect of 2020 begins to affect. We are pleased to witness such a bullish trend, and I look forward to a new maximum that bitcoin deserves , ”said Andy Chun.
Recall that the day before, co-founder and managing partner of Kenetic Capital, Jehan Chu, named three compelling reasons why Bitcoin should reach $ 30,000 by the end of the year.
Meanwhile, one of the key indicators of technical analysis signals that the cryptocurrency is already striving for a new annual maximum of 2019 – $ 10,000 per coin.
Publication date 29.05.2019
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