December 20, 2019

The Rise of Bitcoin or Why The Major Cryptocurrency Can Hit $250k in 2020

Can Bitcoin Hit the Moon in 2020? – Another Prediction Amid Bullish Market Moves

We all follow the latest market moves, watching how Bitcoin is shaking the nerves of thousands of investors and crypto traders. The number one question for all crypto fans and followers – what will be the Bitcoin price in 2020? Huh, not so fast, guys…

The first cryptocurrency in the world managed to find a recovery path in recent hours by making a bullish return. The $300 move in almost 24 hours was an excellent remedy for many traders, while others cannot stop believing in their failed short trades.

Although Bitcoin is surviving through many news and other manipulations, trustworthy cryptocurrency experts tend to believe that BTC will shine bright like a diamond in 2020. 

For example, Michael van de Poppe commented on BTC by posting his tweet.

Tim Draper’s words also weren’t ignored by the community, as he stated that Bitcoin might hit the highest price in its history – $250,00 by 2022. Known as a cryptocurrency investor and a leading sponsor of the Tezos project, Draper tends to believe that the ‘unreal’ high levels may be seen after the halving in May 2020.

According to his words, if you apply technical analysis to Bitcoin – you can notice that the price is going towards $250,000. However, other experts already mentioned that technical analysis cannot be applicable to the cryptocurrency market, especially in recent years.

Besides, he also added that the current BTC price is in the right place, and there are no signs of believing in its unpredictable surge. Draper mentioned the previous statement because Bitcoin’s price was modeled employing Stock-to-Flow. According to the model, the cost of BTC should be around $8,200. This fact was also commented by trader filbfilb. 

Of course, some people want to believe in positive predictions, yet the majority of investors and traders understand that the volatility of the cryptocurrency market can be very high. Any opinions must be analyzed and evaluated, especially if they force people to re-think their trading or investing strategies.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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