Tom DeMark's Market Analysis Suggests Next Low Could Be Mere Days Away

in #gjdkhls2 years ago

The bitcoin low could come as early as the end of this year, according to technical analyst Tom DeMark.

It's going to be a big drop, said DeMark, who predicted that bitcoin would eventually hit $5,000. The current level is too high.

At $6,500, bitcoin is down more than 20% from its all-time high of nearly $8,000 set in December. The cryptocurrency fell below $6,000 on Tuesday for the first time since mid-December.

DeMark said he expects the price to fall to below $5,000 by year-end. He said it would then rally into 2019 and 2020 before crashing again.

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