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Market Analysis June 2019

Bitcoin has seen a parabolic price rise in the last three weeks. The bitcoin price went from $11,100 to $19,500 during the period 5th June 2019 - 27th June 2019. That's about a 75% gain over that period.

A price retracement was expected and that happened today. Short sellers moving in and taking their profits. The 5% price drop in bitcoin caused a trickle down effect on all other altcoins. The two most prominent tokens Litecoin and XRP seeing a price drop of around 10% - 15%.

When these types of retracements occur in a bull-market you can expect some good buying prices. I will be buying some Litecoin and XRP and expect that the price will return higher within a week or two resulting in at least 10% gains.

The general market conditions are looking very favourable and are very similar to the January 2018 market highs. If the market continues on the same trajectory, we should expect bitcoin to reach at least $26,000 very soon!

I am personally waiting for the altcoin season to heat up. You can expect 10x and 20x gains. Some coins to watch are TRON and my number one pick Ripple XRP.

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