Tesla 2021. Businessmen predicted a multiple rise in the price of bitcoin

In 2021, Bitcoin will rise in price to $ 74 thousand, the founder of TradingAnalysis, Todd Gordon, is sure. In a conversation with CNBC, he explained such a prediction with the Elliott Wave Theory, which is a "great way" to analyze a cryptocurrency chart.

The first wave in Gordon's analysis corresponds to a 658% rally in Bitcoin in 2014, while the cryptocurrency may now be in the fifth wave. The trader stressed that in a negative scenario, the price of the asset could rise to $ 34,000.

“My goal is $ 74k. Elliott Wave works well with Fibonacci ratios,” Gordon said.

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