Polish Fintech Specialist Predicts Bitcoin Price to Drop to $100
Polish Fintech specialist, Marek Paciorkowski recently voiced his opinions on how bitcoin prices will move in the near future. According to the expert, who also serves a significant role at Poland’s exchange, the Aforti Exchange, bitcoin has the potential to drop to $100.
His prediction is supposedly a result of an ongoing pattern observed since December 2017 until this year, in which a triangle form has been noticed across several months. In order to study the said pattern, a tool dubbed, Bollinger Bands was used, which assesses Bitcoin’s sideway movements and volatility, which helps to study ideal buy in and sell out prices.
While this is troubling to hear, Paciorkowski advises that investors should not simply stop at hoping for the best, as it is equally necessary to anticipate for the worse. The specialist went on to say that given that market trends are analyzed using the Bollinger Bands, any price,
“Breaking above USD$7,715 level will count as a reliable buy signal, while dropping below USD$5,613 will be a definite sell signal.”
Despite this being a worrisome perspective on bitcoin prices, it is definitely not the first of its kind. Matter of fact, there remains many recognized investors and CEOs who would naturally shutdown Paciorkowski’s findings.
Null Tx reported on this matter and has since given several examples of actions that are increasing interest among institutional investors. Some of which include claims made by hedge fund manager, Mike Novogratz who trusts the end of 2018 is bitcoin’s time to get back up by nearly 30%, ICE’s Bakkt project, and ongoing proposals for exchange-traded funds to name the least.
All this being said, this is an interesting viewpoint to consider, if Paciorkowski is right about the potential buy in and sell out prices, investors could be more watchful of the market with some direction in mind.
As per the CoinMarketCap statistics, bitcoin’s price currently sits at USD$6,666 with gains of as little as 2.56 percent in the past 24 hours. After the rejection of several ETFs bitcoin did not see its prices budge from the 6,000 ranges.