Cryptotriton and investor Willie Wu (Willy Woo) has warned that in the near future the price of bitcoin could fall to a record in 2018 of at least $5500.
“I think we’re going to go to $5500-5700, I don’t see that will keep $7000. Most likely, we will long to balance, then scholsem below. Long term, when it happens, at a rough calculation seen in June is best guess,” wrote Willie Woo on Twitter.
I think we are gonna go to $5500-5700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess. /1 pic.twitter.com/pCN0N97vp6
— Willy “not giving away ETH/BTC” Woo (@woonomic) May 26, 2018
He noted that he sees falling prices of BTC below $5 thousand — this level of support technically looks very strong. In his opinion, the current price of bitcoin is weak support because of the high volatility of cryptocurrencies and the lack of transactional activity in the network.
“Thus, my best guess… quite a slow slide to $6800… then a steeper decline to $5700, then the alignment falling… then exit on the plateau. It’s an educated guess based on the profile of the volume and fundamental data that determine the speed of movement, “ concluded Willie Woo.
Recall that on the eve of the famous programmer, entrepreneur and bitcoin enthusiast John McAfee (John McAfee) had predicted in June the growth of BTC-quotes up to $15 thousand. Previously founder and head of Fundstrat Global Advisors Tom Lee (Tom Lee) confirmed its Outlook for bitcoin is 25 thousands per coin by the end of 2018.