Recently, after Bitcoin consolidated at $ 9,900 for a few hours, it again rose above $ 10,000. While it is not yet clear whether BTC is converting US $ 10,000 to support, a leading stock / futures trader expects a greater break in the coming days and weeks.
The analyst states that BTC is likely to reach $ 15,000 by the end of the year.
Bitcoin $BTCUSD is setting up for a move – likely to follow in $GOLD's footsteps. We're coiling into a multi-year triangle, and these don't resolve with small moves. Given the trend entering this pattern was up, this should resolve the same way with 15k then 24k targets pic.twitter.com/9rRFm75PPp
— Adam Mancini (@AdamMancini4) July 26, 2020
Bitcoin (BTC) May Rise Up to $ 15,000 Soon
The gold market has experienced an explosive growth in the past few months. Since the beginning of the year, an ounce of precious metal has increased 25% and has risen from about $ 1,500 to $ 1,916. This means that gold is only a few dollars away from the all-time high price.
According to Adam Mancini, a popular futures trader, Bitcoin may soon follow gold closely. Following the steps of gold, the analyst said that BTC will reach $ 15,000 and said:
“Bitcoin is preparing for a big move, it will probably follow the steps of gold. We come out of a multi-year triangle, and these formations trigger large movements. Given the increasing trend in this pattern, this could bring BTC to $ 24,000 targets after $ 15,000. ”