• CoinStic
  • Posts
  • MarketWatch: Long-Term Trend Shows Bitcoin Heading to $20K – Bitcoin, Ethereum, XRP Price Analysis

MarketWatch: Long-Term Trend Shows Bitcoin Heading to $20K – Bitcoin, Ethereum, XRP Price Analysis

March 04, 2019

Canaccord Genuity Capital Markets just wrote a new note to clients, citing a “striking resemblance” in Bitcoin’s price action from 2011-2015 and 2015-2019.

If past is prologue and the trend continues, Canaccord’s Michael Graham and Scott Suh say the data suggests BTC is on its way to $20,000, reports MarketWatch.

“Looking ahead, if bitcoin were to continue following the same trend as in the years 2011-2017, the implication is that bitcoin would be bottoming approximately now and would soon begin climbing back towards its all-time high of ~$20,000, theoretically reaching that level in March 2021.”

Right now, the crypto markets are a sea of red, with Bitcoin down 2.81% at $3,738. Ethereum is down 5% at $125 and XRP has dropped 3% at $0.3049.

Technical analysts say the short-term outlook on Bitcoin is decidedly bearish, with FXStreet saying further declines “remain unstoppable.”

Bitcoin

Ethereum

XRP

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.