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  • Marc Lasry said says that Bitcoin price will begin to rise as trading becomes easier.
  • “I think then you will have something that will end up being somewhere around $20,000-$40,000″ Marc Lasry said on CNBC.

Bitcoin price is currently making consolidation in a short-term bullish flag pattern with support above $7,300. The trend at the time of press is bearish, besides it is trading at $7,337 although it commenced  the trading session on Thursday 19 at 7377.70. The weak support at $7,400 failed to hold during the trading yesterday resulting lower corrections.

In the meantime, while on CNBC’s Squawk Box segment, the CEO and billionaire co-founder of Avenue Capital Group, Marc Lasry said that he sees Bitcoin trading at $40,000 in a few years to come. He also noted that this will happen as trading of digital assets gets easier:

“You are hoping that as it gets more into the mainstream and as more markets allow it to trade where it’s freely tradable, to me, that’s more the market bet. I think then you will start seeing the price of it as it’s easier for people to buy. I think then you will have something that will end up being somewhere around $20,000-$40,000.”

Bitcoin price analysis

Bitcoin price is correcting lower from the bullish trendline on the 4-hour chart. The bullish flag pattern could breakout in the medium-term and attack $7,400 resistance. The 20-day Moving Average coincides with the 61.8% Fib retracement level with the last swing high of $7,738 and a low of $5,755 close to $7,000 in the event of a trend reversal is unstoppable at the short-term support ($7,300).

BTC/USD 4-hour chart