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<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h228">$9,300 or $10,000?</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h325">A bullish year-end prediction </a></li></ul>
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According to Bloomberg, the bulls have <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2020-06-08/bitcoin-s-recent-rally-may-have-run-its-course-technicals-show?utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=crypto">hit a snag</a> after an impressive rally that ultimately sent the price of Bitcoin to its three-month high of $10,428 on June 1.
Its proprietary indicator shows that the top cryptocurrency is in the midst of forming ‘a selling pattern.’
<em>image by <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2020-06-08/bitcoin-s-recent-rally-may-have-run-its-course-technicals-show?utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=crypto">bloomberg.com</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
$9,300 or $10,000?
Meanwhile, cryptocurrency trader <a href="https://u.today/bitcoin-price-undergoing-bullish-consolidation-says-trader-scott-melker">Scott Melker</a> has outlined two scenarios of Bitcoin’s price action in the near future.
If the BTC manages to decisively break out of the recently formed range by surging above $9,800, the bulls will be able to push the price above the key level of $10,000.
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/scottmelker/status/1270037708161900545">@scottmelker</a></em>
Otherwise, the leading cryptocurrency could drop all the way to $9,300, and this will likely be followed by more downside.
As predicted by Kraken Intelligence, the benchmark cryptocurrency <a href="https://u.today/bitcoin-price-could-plunge-to-6000-after-correction-kraken-intelligence">could collapse to $6,200</a> if it continues to get rejected at the pivotal resistance of a multi-year pennant.
<a href="https://u.today/trader-henrik-zeberg-suggests-that-bitcoin-price-has-begun-its-monumental-crash-to-1760">card</a>
A bullish year-end prediction
Despite the gloomy short-term prediction, Bloomberg expects the bulls to gain the upper hand this year.
In its monthly report called <a rel="nofollow" target="_blank" href="https://data.bloomberglp.com/professional/sites/10/Bloomberg-Indices-Outlook_Cryptos_June-2020.pdf">‘Bloomberg Crypto Outlook,’</a> the company’s commodity strategist Mike McGlone forecasted that the BTC price could skyrocket to a new all-time of $28,000 by the end of 2020.
As <a href="https://u.today/bloombergs-analyst-we-expect-bitcoin-price-to-continue-appreciating">reported by U.Today</a>, McGlone recently tweeted that the top cryptocurrency was maturing into ‘a digital version of gold.’
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twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
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Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h228">$9,300 or $10,000?</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h325">A bullish year-end prediction </a></li></ul>
Advertisement
According to Bloomberg, the bulls have <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2020-06-08/bitcoin-s-recent-rally-may-have-run-its-course-technicals-show?utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=crypto">hit a snag</a> after an impressive rally that ultimately sent the price of Bitcoin to its three-month high of $10,428 on June 1.
Its proprietary indicator shows that the top cryptocurrency is in the midst of forming ‘a selling pattern.’
<em>image by <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2020-06-08/bitcoin-s-recent-rally-may-have-run-its-course-technicals-show?utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=crypto">bloomberg.com</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
$9,300 or $10,000?
Meanwhile, cryptocurrency trader <a href="https://u.today/bitcoin-price-undergoing-bullish-consolidation-says-trader-scott-melker">Scott Melker</a> has outlined two scenarios of Bitcoin’s price action in the near future.
If the BTC manages to decisively break out of the recently formed range by surging above $9,800, the bulls will be able to push the price above the key level of $10,000.
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/scottmelker/status/1270037708161900545">@scottmelker</a></em>
Otherwise, the leading cryptocurrency could drop all the way to $9,300, and this will likely be followed by more downside.
As predicted by Kraken Intelligence, the benchmark cryptocurrency <a href="https://u.today/bitcoin-price-could-plunge-to-6000-after-correction-kraken-intelligence">could collapse to $6,200</a> if it continues to get rejected at the pivotal resistance of a multi-year pennant.
<a href="https://u.today/trader-henrik-zeberg-suggests-that-bitcoin-price-has-begun-its-monumental-crash-to-1760">card</a>
A bullish year-end prediction
Despite the gloomy short-term prediction, Bloomberg expects the bulls to gain the upper hand this year.
In its monthly report called <a rel="nofollow" target="_blank" href="https://data.bloomberglp.com/professional/sites/10/Bloomberg-Indices-Outlook_Cryptos_June-2020.pdf">‘Bloomberg Crypto Outlook,’</a> the company’s commodity strategist Mike McGlone forecasted that the BTC price could skyrocket to a new all-time of $28,000 by the end of 2020.
As <a href="https://u.today/bloombergs-analyst-we-expect-bitcoin-price-to-continue-appreciating">reported by U.Today</a>, McGlone recently tweeted that the top cryptocurrency was maturing into ‘a digital version of gold.’
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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Twig\Template->render(Array, Array) (Line: 40)
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Drupal\Core\Render\Renderer->render(Array) (Line: 474)
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__TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
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Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
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Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
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