One of the big questions many investors are asking is whether Bitcoin (BTC) could finally break its historical record. For this reason, many experts have carried out analyzes and studies in the market, indicating that the possibilities are extremely high.
Bulls will dominate the market this 2020
In multiple interviews that were conducted during the beginning of 2020, various experts have mentioned that this year bulls will dominate. However, there are some less positive predictions, in which the bears will be the hosts.
Although movements in the market can be easily altered, one of Bitcoin’s optimists Tom Lee indicates that within 200 days or less, this token will be able to triple its value without difficulty.
The forecast made by the cryptocurrency expert caused great controversy. Because, in a short period of time, Bitcoin almost doubles its value. After having noticed a growth of up to 40%, many predictions emerged, many of them positive. However, recently there was a drop in its value, which could have been caused by many variants.
Will the bears be present?
Although almost no investor wants an excessive presence of bears in the market, they may possibly have an appearance on some occasions. This is because Bitcoin is a volatile cryptocurrency, which still does not maintain stability in the market. For this reason, the presence of bears cannot be ruled out.
On the other hand, several predictions were recently made, in which experts indicate that the price of Bitcoin it could fall to 4,000 USD; At the time this article was made, BTC’s price was close to 7,600 USD and with a downward trend.
Although the Bitcoin price may continue to drop and this represents a “loss” for many investors. It also represents a new opportunity for those who wish to join the market. Because having a low cost of acquisition, it is possibly easier to obtain.
In addition, it is expected that after the bearish streak, the token can recover and triple its value within 6 months. This means that the profits for investors could be present during the course of 2020.
Various analyzes indicate that 2020 will be the year of Bitcoin
Technical analysis and predictions can be very helpful in knowing whether to close or continue a trade. Therefore, they must be taken into account and then carry out a personal study and choose what action or strategy to carry out. For this reason, some experts offer their predictions to the public, among them you can find:
It should be noted that Tom Lee, one of the optimists of Bitcoin, indicates that the price of this cryptocurrency could have a fairly long uptrend. Which will allow you to reach the figure of USD 30,000 and subsequently reach USD 100,000. Likewise, the analyst also indicated in the interview, BTC could exceed this figure without complications by the end of the year.
This is a prediction that is possibly being fulfilled, because Tone Vays indicated that the price of BTC could fall as low as 4,000 USD in the short term. This because the price of Bitcoin was close to 13,000 USD and then plummeted reaching the figure of 7,600 USD.
Although the price of Bitcoin is falling more than expected, cryptocurrency optimists and believers maintain an ideal, in which, the token will surpass its all-time high in 2020 and remain above $ 10,000 with ease. In addition, another aspect in favor of Bitcoin is that Halving will cause a possible increase in its value.