Renowned analyst Naeem Aslam, in his last article to Forbes, pointed out certain factors and suggested that Bitcoin could reach $ 10,712 this month.
Forbes author and analyst Naeem Aslam said the price of Bitcoin could reach $ 10,712 in June, with the current investor sentiment and Facebook’s crypto money being released.
ThinkMarkets Chief Market Analyst Aslam thinks June will be an extraordinary month for Bitcoin price activity.
Historically, May has been the month of every best performance for Bitcoin. This year, too, Bitcoin is no different from its predecessors, as it increased by more than 60 percent in May.
Aslam believes that the biggest crypto currency will remain seasonally adjusted throughout June.
The analyst says that the Relative Strength Index (RSI) should change direction on the daily chart and match the upward trend of Bitcoin’s price movement for further gains. However, even if the RSI falls below the trend line, there is no need to worry that oversold conditions will attract more buyers.
“Globalcoin will push the price to $ 10,712”
Aslam claims that Bitcoin could rise to $ 10,712 in the next two weeks due to the current market structure and Facebook’s crypto money, which will soon be released.
“Facebook will create its own crypto currency and unlock a major business value in developing economies. This will be a whole new paradigm. Anal The analyst said, “I’m optimistic about the Bitcoin price this month, and I believe that the Facebook event will be the catalyst for Bitcoin’s rise.
The social media giant is expected to release the whitepaper of crypto money on June 18th.
Crypto money is said to allow users to send and receive money from their Facebook, Whatsapp and Instagram accounts. In addition, the company’s employees can receive salaries in this new currency is expressed.