Zhao Dong: “Bitcoin will be below $ 6,000 for most of 2019”

Chinese cryptocurrency billionaire Zhao Dong expressed the opinion that the "bearish" market is not over yet and the rate of Bitcoin will not exceed the mark of $ 6,000 for most of 2019.

Zhao Dong believes that the price of Bitcoin will be within the channel $ 4,000- $ 6,000 at least until October of this year. As for the recent rise in the price of the first cryptocurrency, the rate is still in this channel.

"Bitcoin price could rise moderately to $10,000 before the halving event next year. After that, it will plunge to somewhere between $6,000 and $7, 000," 

said the trader.

However, in his opinion, after a reduction in remuneration and some consolidation, the first cryptocurrency should rise significantly to $ 50,000. However, Dong noted that the Bitcoin exchange rate would reach this level, it would be necessary to invest billions of dollars in the industry.

Earlier, Zhao Dong repeatedly urged to buy the first cryptocurrency - the last such statement he made in February. At the same time, according to Bloomberg analyst Mike McGlone, Bitcoin is extremely overbought and therefore a slight depreciation awaits him.

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