Analyst: Bitcoin Could See $20,000 BTC/USD Exchange Rate In July Having A Look At Fractals

The crypto analyst Kaleo shared on Twitter that Bitcoin was closely following the same price action as it experienced in the past. He said that if the digital currency continues behaving as it has been, it might be possible to reach $20,000 by July this year.

  • Crypto analyst Kaleo shows Bitcoin is following a fractal pattern
  • As per these charts, Bitcoin could eventually reach $20,000 by July 2019

As Bitcoin (BTC) continues to expand in the cryptocurrency market, the question that analysts ask is when is this bull trend going to stop. Bitcoin has grown more than 150% this year and in the last months, the price increase in Bitcoin accelerated. The charts shared by the analyst show that if Bitcoin follows the fractals, the digital asset could eventually reach $20,000.

Could Bitcoin Reach $20,000 By July 2019

The cryptocurrency analyst called @CryptoKaleo, shared some chart sin which it is possible to see that Bitcoin is following a fractal pattern that fit almost perfectly on the current price movement that the virtual currency was experiencing.

The fractual that the analyst shared seems to be so accurate that it has predicted the moved from $8,000 to $8,900 and that many traders were not seeing it coming. In general, fractals tend to have very different time frames, but surpisingly, this fractal seems to be almost identical also in terms of the time fame used.

He said that the best part of these charts is related to the potential that it has to reach new highs. In the near future, these fractals could take Bitcoin to test $20,000.

Kaleo commented that the next point of interest is in the $8,000 – $8,100 range and that bears are going to be screaming for $3,000 and $6,000. However, he said that he will be buying the dip.

Although the fractal has been very accurate describing Bitcoin’s price action, it might not be able to predict Bitcoin reaching $20,000 in the coming days since it is something that would go against many other analysis made by experts.

According to Michael Novogratz, the founder of Galaxy Digital, Bitcoin could be traded between $7,000 and $10,000 during the coming months. Thomas Lee, the co-founder of Fundstrat Global, mentioned that if Bitcoin reaches $10,000, FOMO (fear of missing out) would start in the market.

Bitcoin’s price is $18,422.45 BTC/USD exchange rate today. The real-time BTC market cap of $341.47 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $9.9 Billion and live coin value change of BTC -0.62 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$18,422.4473 change ~ -0.62%

Coin Market Cap

$341.47 Billion

24 Hour Volume

$9.9 Billion

24 Hour VWAP

$18.45 K

24 Hour Change

$-114.7040

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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