Tanya Abrosimova
Independent Analyst
- Cryptocurrency experts come up with contradicting price forecasts.
- Bitcoin stays hovers around $6,300 amid market indecision.
One Bitcoin hovers around $6,300 handle at the time of writing after sliding to as low as $6,218 during early Asian hours. The Relative Strength Index stays close to the oversold territory, though there are no signs of reversal as of yet. This implies that rangebound trading with downside bias may be in store.
Meanwhile, cryptocurrency experts believe that the first digital coin will recover to $8,000 area by December 1, the finder.com survey shows. According to the median estimates, BTC/USD will gain 29% in November and jump to $16,000 by the end of 2019, which implies over 160% growth in one year time.
Joerg Molt, the co-founder of co-founder at Satoshi School, is the most optimistic forecaster as he expects that Bitcoin will grow to $15,000 by December 1, 2018, amid American tax season.
“On November 15th, taxation begins. People run in BTC like last year and will sell off in mid-January to get the cut,” he commented.
Fred Schebesta, CEO and co-founder of finder.com and HiveEx.com was the only to predict the Bitcoin price decrease to $5,800.
BTC/USD, the daily chart
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