After a fairly good ending to 2019, Bitcoin has been on a good start in 2020. Since the start of 2020, the Bitcoin price has surged nearly 20% reaching closer to over $8,500 levels. At press time, Bitcoin is trading for a price of $8,534 with a market cap of $154 billion.
However, this has got many analysts and Bitcoin enthusiasts talking about future predictions. This has always been the case for Bitcoin which has been the darling of crypto investors over the last few years. A Twitter handle named Mac recently said that Bitcoin has already bottomed out if it manages to hold $7,450 levels for the next 60 days.
Too long didn't read:$BTC Bottom is in if $7450 holds for the next 60 days.
Different analysts are giving different Bitcoin price predictions for 2020. These predictions differ with the most conservative one being $12,000 and the most optimistic being $100,000 in 24 months.
While many Bitcoin analysts are giving different price targets for Bitcoin, a position trader has made an ultra-bullish prediction recently. A trader named Bitcoin Macro recently tweeted his wild prediction for the Bitcoin price. He said that Bitcoin can easily breach $100K levels in the next two years by the end of 2021. Meaning, Bitcoin price will surge 1130% in the next 24 months.
Looking at Bitcoins historical chart patterns, we cannot completely ignore this. However, some analysts think that this can be a far-fetched prediction looking at the current scenario. Some of his followers clearly dismissed his predictions while the others asked him to back it with proper reasoning and data.
I can assure you that you are out of your mind.
Popular Bitcoin bull Mike Novogratz, also the founder of Galaxy Digital, is giving much-consolidated targets for Bitcoin price this year. Novogratz predicts that Bitcoin can end this year 2020 around $12,000 levels.
Bitcoin Halving Can Provide Some Boost to the BTC Price
One of the major Bitcoin price triggers this year can be the Bitcoin halving event scheduled in mid-2020. Historically, Bitcoins performance after its p ...