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Bitcoin can retest $15k in 2021 before heading to $80k, Sublime Traders founder suggests
Sublime Traders founder: BTC to hit $80K in 2021 but volatility can retest price to $15k
Samuel
Town
1 hour ago
2 mins read
Andrei Stanciulescu, the founder of cryptocurrency signals provider Sublime Traders, has said bitcoin could hit $80,000 by the end of the year amid the ongoing price volatility accompanied by sideways trading.
Speaking to Kitco News, Stanciulescu noted that as the bitcoin continues to trade downwards, it forms resistance levels that will act as a key catalyst in propelling the asset to $80,000.
He acknowledges the volatility around bitcoin is due to the negative news around the asset, especially on the regulatory front. Furthermore, the renowned trader states that the drop in bitcoin price from the April all-time high is due to slowed interest from institutions that began taking a profit.
According to Stanciulescu, once bitcoin has weathered these shortcomings, it will gradually build a bullish momentum towards the projected price target.Read More (https://cryptonews.net/847729/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)