Bitcoin has been facing extreme volatility and market manipulation (as per many so called crypto 'gurus') since the beginning of year 2018. People are expecting a recovery in Bitcoin price with each day passing by but contrary to their beliefs, Bitcoin's price is going down and down every single day.
Where some people believes that Bitcoin's Bubble has been popped and with current price we might see a reversal and there are some people who believes that Bitcoin's price has still a long way to go before turning Bullish again.
One of those people is Todd Gordon, the founder of Tradinganalysis.com He appeared on CNBC recently and shared his unbiased opinion on National Television regarding the price of Bitcoin.
As per Todd Gordon, Bitcoin price will crash to $4000 eventually before going back up to $10,000 by the year 2019. Gordon told CNBC that he's Bearish on Bitcoin in Short-term until it drops to $4000 and then the technicals will kick in.
According to Gordon, Bitcoin market is highly technical market and it is possible to see a certain further downfall in the market in coming days. The possible reason for the long-lasting sell off is : Exchange hacks, lack of regulations and tax purpose sell-offs.
Currently, Bitcoin is trading at $6150, a 5% increase since yesterday's price.
Thanks for reading ...!!