Published On: Tue, Apr 10th, 2018

‘The Trend for Bitcoin is Clear – UP,’ Says Market Analyst

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As Bitcoin price continues to consolidate in the sub-$7000, many investors are left wondering which direction the world’s largest cryptocurrency by market cap will go next.
‘The Trend for Bitcoin is Clear’
There is no denying that we are currently in the grips of a bear market. Since reaching highs of roughly $20,000 in mid-December, the price of Bitcoin has worked its way down — sometimes dramatically so — to lows just above $6000.
That said, bear markets don’t last forever — as evidenced by Bitcoin’s historical chart. Thus, the real question is: Which way are we going from here?
According to some, like NYNJA chief strategy officer Marshall Taplits, the answer to that question is obvious. He told Forbes:
Speculation on price is always difficult. However, the trend for Bitcoin is clear — UP, going to about $20,000 USD from zero in 10 years. Each time Bitcoin corrects, the media wrenches. However, anyone who has been watching crypto currency since the beginning knows to bet on $30,000.
Daniel Worsley, chief operating officer of LocalCoinSwap, agrees with Taplits bullish sentiment, explaining:
There is no other network that has been as battle tested as the Bitcoin blockchain. …

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