In a recent one interview with Bloomberg, Greenspan touched on the latest price action that marked the rise of Bitcoin over $ 8,000 this week. While the largest digital currency has since returned to about $ 7,000, Greenspan is very bullish on the leading digital currency that goes ahead.
"We are only part of a larger cycle. Bitcoin went through several cycles earlier," he told Bloomberg. "We are talking about sometimes 10,000-50,000% gains, and then they have these massive withdrawals that can be 80% or even 90%."
Greenspan separately left for Twitter on Friday to give him short technical defect of Bitcoin, noting that if he changes his current retraction, there are very few resistors between 8,000 and 20,000 dollars.
If the withdrawal is regained now and we are overcoming the latest highs, there are virtually no large resistance levels of up to $ 20,000.
Past performance is not indicative of future results. This is not a trading tip. Cryptopets are very risky. So trade with caution. pic.twitter.com/xKT9534OUt
– Mati Greenspan (@MatiGreenspan) May 17, 2019
Like us previously reported, according to Fibonacci estimates, based on previous heights, 23.6% ($ 7,024), 38.2% (9,372), 50% (11,269), 61.8% ($ 13,166) and 78.6% (15,867 dollars), according to Greenspan.
In his defect, Greenspan accurately predicted that we would quickly see $ 7,000 when the BTC traded about $ 5,000. Time will tell if his latest prediction will be realized.
More: Bitcoin is just about to begin on the next parabolic cycle, says Greenspan from Etoro
Related: Senior eToro Analyst: Bitcoin (BTC) can be easily redeemed to $ 7,000
Picture: Mark Wehr / Flickr
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