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Prominent Trader Expects Bitcoin to Plunge Below $3,000 as Crypto Bear Market Persists



It has become increasingly apparent to crypto and Bitcoin investors alike that the 2018 bear market will persist throughout 2019, despite most investors previously thinking that the markets would start afresh in the new year.

One prominent trader is now predicting that Bitcoin will drop below $3,000 in the near future as the markets continue expressing weakness.

Resistance Around $4,000 Will Lead Bitcoin to Drop Further

In a recent interview with CNBC, Anthony Grisanti, a prominent futures trader, explained that the price drop that he sees as being imminent will be fueled by traders liquidating their positions as Bitcoin fails to break above its resistance levels that exist around $4,000.

“I’m looking for a move down to $3,000, which would represent a real weakness in this market… It could be the driver that gets people to bail out of this and push it even lower,” Grisanti explained.

He further explained that the volatility Bitcoin and the general crypto markets have seen…





Read Full Story : NewsBTC

2019-01-12 22:00:02

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