Alan Gilbert, along-time investor and analyst for Bitquin, has predicted a correction for the short-term price of the Pitcairn. Gilbert wrote on December 6 what will happen over the next 12 months regarding the Pitcairn, explaining:
At first, people will say that Betquin is just a bubble, and then Betquin will continue to rise further and further record. After the rise in prices, this will be followed by a correction of the price for people to come back and assert that they are just a bubble. Prompting some to sell their bitquin, while the market will see new traders enter. Then we will see a repetition of the previous scenario so that the Betcquin strongly back to rise to levels higher than its predecessor and record new records.
Earlier in the day, on December 22, Gilbert reassured the Pitcairn community that the Bitquin was in a price correction period, but that it would soon be rebounding. Gilbert also confirmed that he supports the correction in the price because it is causing the stability of the market, and is filtering out the speculative and weak hands of them.
Where will the price of Bitcoin go after the correction process?
According to the CCN previously, the recent decline in the valuation of the digital currency market is not only for the currency of the Betquin, every digital currency in the market may face a significant decline in value. Mike Novogratz, the former billionaire and former chief executive of Fortress, said the short-term high level of the Bettkin could have been achieved, and that the price of the Betquin could remain within $ 16,000 for a period of time. Novogratz also noted that the rise in the Betquin market has stalled, and in the short term it is likely that the price of the Pitcairn will begin to recover.
Novogratz stated that in one case, the price of the betcin may drop to $ 8,000. Until then, this may take one month from the Pitcullin to return again, on a month-by-month basis. Last month, on November 22, the price of the Pitcairn was $ 8,000, and since then the price of the Pitcairn has risen by a staggering 65 percent in value. Given that the price of Bitquin has already begun to recover, it has risen from $ 12,500 to $ 13,000 in the past few hours. In the next few days, the price of the Betcairn could return to its previous levels at $ 16,000 and $ 17,000.
Important events to keep in mind
This week, the $ 98 billion investment bank Goldman Sachs was unveiled to launch the Digital Currency Trading Office by 2018, Bloomberg said. Michael Sachs, spokesman for Goldman Sachs, said the company will address the growing demand for Bitquin and the digital currency market in the coming months over the long term. He added:
"In response to customer interest in digital currencies, we are looking for the best ways to provide services to them."
In addition to Goldman Sachs, the New York Stock Exchange (NYSE), the largest stock market in the global finance industry, has applied for two petty trading funds. Which will allow institutional investors, regular trainers and retailers to invest in Bitquin through structured channels. This is in spite of the fact that Futures contracts are traded in both Cboeand CME platforms.
