Bigger Bitcoin correction is on the cards

The world could be in store for an even bigger correction in the price of Bitcoin, the Chief Executive of claims validation platform TruStory has warned.

Preethi Kasireddy told attendees at the Yahoo Finance All Markets Summit on Thursday that last year was “crazy” and that she thought the correction in the price of Bitcoin at the start of 2018 would have been greater.

“It has kind of teetered out at this point, but I actually think there will be an even bigger correction,” she warned. Kasireddy said prices are not at the bottom of the trough and that the drop seen so far is “minor”.

Her comments came after a survey by price comparison site found Bitcoin is expected to hit just US$14,638 (£10,995) by 31st December 2018 – half of January’s prediction of US$33,000 (£24,791). Bitcoin has not risen above £10,000 since it fell in January.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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