Bitcoin price: Cryptocurrency set to SURGE by 70 per cent, reveals expert
Bitcoin is set to surge by 70 per cent
Bitcoin prices have continued to disappoint investors as the cryptocurrency once again dropped yesterday but that is set to change, a trader has claimed.
Bitcoin traded to a low of $7,700 which marks a loss of 40 per cent since the beginning of the year.
The trader, Bill Baruch, who is the President and founder of Blue Line Futures, said: “The $7,700 low is ironic because it is the same level that it broke above and began a parabolic ascent in mid-November.
“I am watching a key level at $8,650 and a continued close above that could signal immediate upside potential.”
The trader believes there will be a near-term upside of $14,500, a 70 per cent increase from its current price.