Home Blockchain News Bitcoin Price Roars Loud But Could Quickly Unravel to 30% Plunge: Analyst

Bitcoin Price Roars Loud But Could Quickly Unravel to 30% Plunge: Analyst

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By CCN: Josh Rager, a cryptocurrency trader and technical analyst, expects a healthy pullback for bitcoin based on the historical performance of the asset in the past three years. Since 2016, the bitcoin price has tended to correct by 30 to 40 percent following a strong short-term rally. Although the historical performance of the bitcoin price is no guarantee of its future trend, coming off of a staggering 100 percent year-to-date gain, despite the strong momentum of the asset, some analysts have suggested the possibility of a large correction. Is a 30 Percent Drop For Bitcoin Possible? Like any other

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* First published on ccn.com

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