eToro senior market analyst Mati Greenspan believes the next parabolic run on Bitcoin's ( BTC  In a recent interview in Bloomberg, Greenspan holds the latest price action that saw Bitcoin growing over $ 8,000 this week. While the largest digital currency has since been pulled back around of $ 7,000, Greenspan is very bullish on the leading digital money forward.
"We're just part of a bigger cycle. Bitcoin has gone through some rounds before," he told Bloomberg. is speaking about sometimes 10,000-50,000% gains, and then it has tremendous retracements that can be 80% or even 90%. "
Greenspan separately took on Twitter on Friday to give a short technical to break down of Bitcoin, citing that if it reverses current retirement, very few fight points between $ 8,000 and $ 20,000.
IF the pullback is coming back and we are still in the past high, almost no major levels of resistance up to $ 20,000.
Past performance is not an indication of future results. It is not a business advice. Cryptoassets are very dangerous. So beware of trading. pic.twitter.com/xKT9534OUt
– Mati Greenspan (@MatiGreenspan) May 17, 2019
Like previously reported the Fibonacci retracement levels based The previous high was 23.6% ($ 7,024), 38.2% ($ 9,372), 50% ($ 11,269), 61.8% ($ 13,166) and 78.6% ($ 15,867) according to Greenspan.
quickly sees $ 7,000 when the BTC works around $ 5,000. The time will tell if his latest prophecy will come to fulfillment.
More: Bitcoin Is Only Begun in Next Parabolic Cycle, Etoro's Greenspan
Related: Senior eToro Analyst: Bitcoin (BTC) Can Easily Rally at $ 7,000  Image: Marco Verch / Flickr
Disclaimer: The author of this article has cryptocurrency holdings that may be monitored here . This article is for informational purposes only and should not be obtained as an investment advice. Always carry out your own diligence before making investments.